We have a 30 yr loan on a single-wide house trailor. The original value of the trailor new was $24k. We have paid $46k but still have 15yrs left.

You have two options to get out of your situation. Either file for chapter 7 bankruptcy and discharge the debt on the home and move out of it or sell your home. Most home mortgages at the end of the full loan amount will usually end up costing the homebuyer twice as much as the purchase price, just remember that. If you have bad credit or take a term of more than 30 years it will cost you even more than double. Many people once they realized this simply don't want to keep paying an end up moving somewhere and renting. The problem with this is you can't just walk away from the property without either discharging in bankruptcy or selling the property, those are really your only two options. I have responded to your inquiry according to the laws of Massachusetts, where my firm is located. Laws can vary significantly from state to state and cases tend to be rather fact-specific, so you are best served by consulting with a knowledgeable attorney in weighing your options. Email messages/Online Correspondence are akin to conversations and do not reflect the level of analysis applied to formal legal opinions. Email/Online responses do not form an attorney-client relationship.    Joseph F. Botelho, Esq. BOTELHO LAW GROUP Attorneys At Law http://fallriverbankruptcyattorney.com/ 901 Eastern Ave.  Unit 2 Fall River, MA 02723  Office:  888-269-0688 FAX:    877-475-8147   #bankruptcy  #lawyer  #FallRiver  #Chapter7  #chapter13  #debt  #debtsettlement  #foreclosure  #attorney   #cantpaybills  #lawsuit  #court  #bankruptcycourt  #eviction  #lostmyjob