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Deficiency judgement

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connie_well Joined: 11 Aug 2008 Posts: 1 1.28 Dollars($)	Posted: Mon Aug 11, 2008 6:33 am    Post subject: Deficiency judgement We filed bankruptcy 2 months ago - our house will go into foreclosure in one month. Our we responsible for deficiency judgment or was the taken care in the Chapter 7 bankruptcy
Niicss Joined: 03 Oct 2005 Posts: 1245 Location: New Jersey 186.06 Dollars($)	Posted: Tue Aug 12, 2008 2:17 am    Post subject: Welcome connie_well. As you have filed Bankruptcy chapter7, all your unsecured debts will be released. So you need not to pay the outstanding balance of the mortgage in this case. But if the mortgage company gets a judgment against you then you are liable to pay it. _________________ Good is the Enemy of Great.
sara Joined: 05 Jul 2006 Posts: 1189 Location: New Brunswick, New Jersey 220.67 Dollars($)	Posted: Tue Aug 12, 2008 5:44 am    Post subject: RE: foreclosure after bankruptcy discharge Hi connie_well, Welcome to the forums. As far as I understand, until you get a bankruptcy discharge, the lender can't foreclose as because bankruptcy puts an automatic stop to foreclosure. So, the deficiency payment doesn't come in till you get the discharge. By the way, do you know when you're getting discharged from bankruptcy?

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