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after foreclosure,can bank sue us for mortgage.

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Guest	Posted: Tue Aug 23, 2011 1:52 pm    Post subject: after foreclosure,can bank sue us for mortgage. Like 0 Dislike 0 We filed bankruptcy and said we did not want to keep the house. Lawyer says mortgage discharged mortgage and the company cannot sue us. I am hearing many answers, can you help
Harriet Green Guest	Posted: Tue Aug 23, 2011 1:55 pm    Post subject: after foreclosure,can bank sue us for mortgage. Like 0 Dislike 0 Bankruptcy discharged our debt. Lawyer says the bank cannot sue us.
chrisgummerson Community Expert Joined: 29 Apr 2010 Posts: 690 Location: La Palma, CA 7.21 Dollars($)	Posted: Tue Aug 23, 2011 4:06 pm    Post subject: Like 0 Dislike 0 It depends on the type of loan you had, whether is was a mortgage or a deed of trust. Some states allow for deficiency judgments and some do not. What state are you in? Is the loan that was foreclosed a refinance loan, or the original loan you purchased the home with? _________________ Chris Gummerson Bay Valley Mortgage Group bayvalleymortgage.com 714-367-5125
jameshogg Joined: 20 Dec 2005 Posts: 10443 Location: Nevada 984.98 Dollars($)	Posted: Tue Aug 23, 2011 7:26 pm    Post subject: Like 0 Dislike 0 Hi Guest, I'm assuming that you filed Chapter 7 bankruptcy and you did not reaffirmed the mortgage when you were in bankruptcy. If this is true, then you can surrender the property to the lender and he can foreclose it but he won't be able to come after you for the deficient balance as you haven't reaffirmed the debt. Thanks

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