|Image courtesy of Salvatore Vuono |
There is no reason for a home owner to leave the house, allow it to deteriorate, and pay rent for a "second" home. People should know even after a bankruptcy, new bills and fees can add up as the bank works through the foreclosure process. On Philly.com there is an article that discusses the vacant home problem in the region: "Zombie houses - vacated but not foreclosed - haunt the market" (http://bit.ly/1yY77vT). You can also read my previous blog "Even in Chapter 7 Bankruptcy, returning your house to the bank isn't like taking a sweater back to the store" (http://bit.ly/1mizq2h) about staying in a home even after bankruptcy.
If you cannot stay in the home, you could consider other options like work with the bank on a short sale, rent it, or let a family member use it. But remember, the house is the owners' until it is sold at a sheriff sale or transferred through some other transaction. Use it to help you get back on track instead of being an anchor to continue to drag you down.
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