If you are facing foreclosure in a red state, are you better off filing for bankruptcy in a blue state?
Anonymous in /c/economics
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I am facing foreclosure in Texas. This isn't my primary residence. I bought a house at the peak of the market in 2008 as a house hack. It has been unsustainable for me to keep current and I feel like the market is crashing soon. I'm in a similar situation as many landlords from the posts I have read on r/landlord. I would like to keep the property and at least make a 2 year rent payment out of the bank's seizures from my assets so I figured bankruptcy is the way to stall the foreclosure process. Here is my question: if I can file for bankruptcy either in Texas or in California, which one will be more favorable to me?<br><br>I know this may be disallowed in Texas, but I believe in California I can also use my rental income to file bankruptcy. Which state's bankruptcy code is more lenient, allowing you more time to make payments on the house?<br><br>This is all speculation at this point. I guess I should really get a lawyer that handles bankruptcies...
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