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I filed for BK in Dec 2007. Although i moved out in Jan 2008 my ex did not until we surrendered the home July 2008. The bk was discharged in June 2010. My ex-husband found via the web that the home is still in my name and that the bank still did not foreclose on the property. He says that i will be held liable for taxes and reporting it as income if i do not initiate a short sale with the bank via his office (currently working in a real estate ofc). says I need to avoid letting them foreclose on the home. I have not received any 1099 to my knowledge and did file taxes each year. Am I liable for paying any taxes or deficiencies? I had no idea that the bank did not proceed with foreclosure. I had assumed it was already reported to credit bureau as foreclosed as well as the bankruptcy being reported. To add insult to injury, I cannot seem to locate the attorneys who assisted us with the BK filing.

Guest

P.S. Sorry i left out that I am in California. i filed separate tax returns. the loan was a refinanced adjustable in just my name.

jameshogg · Posted: Wed Apr 06, 2011 8:28 pm Post subject:

Hi Lisa,

Unless the property is sold off at the foreclosure auction and your name is removed from the property deed, you may be liable for paying the property taxes. You should contact your lender and ask him to sell off the property asap. This will help you sort out the matter.

Thanks

Guest

Thanks Jameshogg, I called the bank and I was advised can still surrender property deed in lieu of foreclosure as foreclosure has not been completed. So someone will contact me in 3-5 business days.

smithsussane · Posted: Thu Apr 07, 2011 7:06 pm Post subject:

Hi Lisa!

Welcome to forums!

That's really good to note! It means that you'll be able to go for a deed in lieu of foreclosure and get rid of the property.

Sussane

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Filed bankuptcy but lender has nt foreclosed Am I liable?

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