Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - Can my parents do this (bankruptcy question)? - So eight years ago my parents bought this terrible fixer-upper. It is awful and only about half-way done and they have NO money left over. They spent all their money trying to fix up a hopless house.
Can they get a loan for another house, across the country, and then file bankruptcy on the terrible one? They can make two house payments (they did before we moved to the terrible house), but their credit score is upper 600s because of co-signing something for my sister. It used to be high 700s...
My dad is an expert in his field (25 years experience) and his work will transfer him. They just don't know if the bank will loan to them for a new house twice the worth (and cost) of that we have. They've never been late on any house/car payments... -
