Would it make a difference if I did a lease/option on it, with a buyer, contingent on them obtaining financing at the end of that time? Then would it just be a regular sale with my obligation being to pay off my loan?

I am retired, over 65, and live on a totally fixed income (SS and VA DIC). I am able to make my payment (just) but not able to do much more than that. I want to move to another state, and still not default on my loan.

If the bank should foreclose on this house, how long does that take. My house is my only asset other than 3500 in the bank, If they sue me, can they touch my fixed income?

I only have 2 and 1/2 yrs owning this house, so the equity is not great, and the appraised value far lower than when bought, tho still above loan by about $12,000. Family keeps telling me to just let it go, and file bankruptcy on 28,000 of CC debt. That amount represents 2 CCs at very low interest rates for the life of the loans. I don't carry any other CC debt.

I don't want to do either a foreclosure OR bankruptcy, but if I did, I just have no idea of the status of my fixed income. I have no intention of buying another home or applying for any credit, so wrecking my credit doesn't bother me, but being on the streets does.

Mainly, I can't maintain the home physically, want to move to be closer to family and also need to be in a warmer climate for health reasons. I am looking for a way to both satisify all obligations and do that.

Also, isn't it fraud to intentionally default on a loan, when actually I am paying (actually, them)? Thank you, and I assure you I will pay you. I have used Just Answer before, and paid even when I couldn't be helped. Your initial reply certainly indicated a CD was a bad plan, and I appreciate knowing that up front.

Thank you. I didn't get the answer regarding whether or not it is considered fraud to bankrupt CCs or allow a foreclosure when I can pay it at this time. In other words, to do either or both when I am not in arrears? I don't want to get arrested either.

Then, two other quick questions. If I am not paying my house payment or CC bills, I obviously would be accruing funds because of not doing so. Even though the funds would be technically from my fixed income, would they count as such?

The second question is regarding the $3500 I indicated I do have in reserve in my savings. Is there an income limit I am allowed to keep? I also forgot to mention I do have a car, even though it is paid for.

With answers to the above questions, I think I have things clear. The rest is just a moral dilemna for me.

I appreciate the time and effort you have spent on these questions. You have been knowledgeable and honest, and that makes a big difference to me. I know I could have asked these same questions of a local Real Estate Person or Lawyer, but they are obviously trying to further their own agendas, and I trust this site for good answers. You are no exception. You have put my mind at ease in many areas, and I feel that I can tackle this situation with a bit of knowledge ahead of the game. Thank you again.

I am willing to pay an extra ten dollars at the end of our sessions, but I'm not quite sure how to do it.