[Livy]

...a foreclosure.? I have a home loan which I signed a quick claim deed over to an ex with the understanding that he would sell or refinance the home into his name. He did not do either of these and instead filled bankruptcy. I am now getting letters from the bank on this house that I do not live in and have no rights to the deed. I've decided to let the house foreclose as they bank will not work with me in a short sale or deed in lieu of. I have other substantial debt and would like to know if it would be better to wait and pay off that debt after the house forecloses or should I pay it off before? My goal is to try to recover from this foreclosure as fast as possible.Thanks!

[CatDad]

Honestly, your credit is going to be hit really hard by the foreclosure...sorry...there is no point in making a special effort to pay off the debt right after the foreclose. Your credit is going to take a big hit for two years after the foreclosure....after that time, your credit will start to go up again. I'd honestly hang on to your money.