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Chapter 7 bankruptcy

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pharkins623 Joined: 28 Sep 2011 Posts: 1 1.34 Dollars($)	Posted: Wed Sep 28, 2011 4:00 pm    Post subject: Chapter 7 bankruptcy Like 0 Dislike 0 I had a chapter 7 discharge and included my condo. The bank is trying to get me to sign a deed in lieu of mortgage and says that I can earn up to $3000.00 They are telling me that I am still responsible for the property that was included in the bankruptcy one year ago. Is this true?
jameshogg Joined: 20 Dec 2005 Posts: 10443 Location: Nevada 984.98 Dollars($)	Posted: Wed Sep 28, 2011 7:15 pm    Post subject: Like 0 Dislike 0 Hi pharkins, If you haven't surrendered the property to the lender after chapter 7, then you are still responsible for the maintenance of the property. However, you won't be responsible for paying off the mortgage dues as the mortgage has been discharged in your bankruptcy filing. You can accept the offer of deed in lieu of foreclosure. This will help you in selling off the property. Thanks
sabrinatoss Community Expert Joined: 16 Jan 2011 Posts: 509 Location: Australia 81.60 Dollars($)	Posted: Wed Sep 28, 2011 8:47 pm    Post subject: Like 0 Dislike 0 Hi pharkins! By filing a proof of Claim, or by addressing questions/arguments to the court. Bankruptcy is ALWAYS in a Federal Court and under Federal Laws. (Yes, some Federal Districts use the prevailing rules regarding some things in their area...like what may be personal property compared to real property, but the overall rules are universal). YOUR STATE GENERALLY MAKES NO DIFFERENCE. _________________ Home Loan, Mortgage Insurance Calculator, Mortgage Broker
PHarkins Guest	Posted: Thu Sep 29, 2011 4:57 am    Post subject: Bankruptcy Chapter 7 Like 0 Dislike 0 My condo and the HOA were both included in the Chapter 7 discharge. I do not care about trying to make any money in signing off on this property, it was investment, I just want to make sure that if I sign anything that I am no longer on the hook for anything. I want them to actually foreclose and take the property back.
smithsussane Joined: 18 Sep 2008 Posts: 10395 Location: Alaska 978.90 Dollars($)	Posted: Thu Sep 29, 2011 8:53 pm    Post subject: Like 0 Dislike 0 Hi PHarkins! Welcome to forums! If you haven't reaffirmed the mortgage in your bankruptcy filing, then you shouldn't be liable for paying anything to the lender. You're not personally liable for the mortgage payments after the bankruptcy is discharged. Feel free to ask if you've further queries. Sussane

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