Open Question: How does a Lease w/option to but work?

Open Question: How does a Lease w/option to but work?
We are currently looking for a home, but we lost our home to foreclosure and are filing bankruptcy.We are considering a lease with option to buy, because we need time to clean our credit up but don't want to move our children again. Are we going to run into problems since we will have a bankruptcy on our credit? And do you have to have alot of money down? So, if anyone can help how does this work?
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Open Question: is there a way to find out of my landlord is going to go into foreclosure?
my landlord owns property with two homes on it… the people in the other home told me they heard our landlord would be going into foreclosure. how do i find out if this is true?? if it is true, what are my rights??
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Open Question: can i do a deed in lieu of foreclosure on my house if i cant pay it?

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Open Question: Should we just let our home go?
My husband and I are in a precarious situation. We bought our home when I was employed and we only had two children. To make matters worse we were victims in the subprime mortgage fiasco. Now, I am out of work and we have 2 more children. My husband is working 7 days, 12 hours a day one week and the following week he's working 6 days, 12 hours a day the other week. This schedule alternates every other week. He's doing this so we can make our house payment. I'm looking for work, but will only bring in about $2000 a month. In December of 2007 we filed Chapter 13 in an attempt to keep our home (We were behind on payments). Monthly, we have about $1950 in bills, groceries etc. on top of a $1450 mortgage payment. So, we have about $3400 in expenses and $3600 in income. If I start working that will be great, but my long-term concern is what if my husbands work cuts back over time? Or what if he gets hurt? Should we try a deed in lieu of foreclosure or continue struggling to keep it? I don't feel we choose to become a victim. We are responsible for not managing our finances well but not for predatory lending practices.
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Open Question: What are the consequences of initiating a non-judical foreclosure on a cond that my husband and I own?
My husband and I recently moved to FL because my husband found a job here and I always wanted to live here. The problem is that we purchased a Villa here and we still own a condo in VA. We are barely making ends meet right now and his company is now talking about downsizing. We cannot refinance because we have no equity in the home . We cant seem to get any good info on the short sale and are thinking of going with non-judical foreclosure. Do we have to be behind on payments to do this? Can the Mortgage Co legally place a lein on our current property or garnish either of our wages if the property sells for less than what is owed which we know it will.
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Open Question: Which is the better worse case foreclosure scenario for me?
I own a California condo that's upside down; I own several investment properties in ID, AZ, and NM that are either not cash flowing or barely neutral. I lost a side business due to market conditions that was able to sustain everything but now I'm only relying on my regular job which isn't enough. I don't see how things in the economy and real estate market can get any better in the next couple years primarily due to the credit crunch. My primary residence is the biggest monthly liability. Should I allow my primary residence to be foreclosed on or one, two, or all of my investment properties? If I lose my primary then I can hold on to all my investment properties. If I keep my primary then i will need to unload some, if not all of my investment properties. I know the tax, legal, and credit consequences of foreclosure (primary vs investment) but I am weighing in what the better worse case foreclosure scenario for me is. I don't like this situation and never intended for this to happen.
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Tags: home equity loan, foreclosure