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deed in lieu of foreclosure post bankruptcy

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partridge38 Joined: 18 May 2011 Posts: 1 1.37 Dollars($)	Posted: Wed May 18, 2011 2:53 pm    Post subject: deed in lieu of foreclosure post bankruptcy Like 0 Dislike 0 We got two properties (CA and CT) that were upside down and are sitting vacant since jan 2010 and Nov. 2010 respectively. we filed chap 7 in Oct 2010, got the discharge notice Feb 2011 only to find out the CA's HOA are running after us for the Oct-present dues. Called the lenders for both houses and another surprising result-the lenders haven't foreclosed the properties yet and bills are starting to pile up again. Is deed in lieu our best option now? How will this impact our chapter 7 discharge? Our lawyer advised to either to get a renter so we can pay whatever bills that comes up or do a deed in lieu? If we have the properties rented again, we don't have the resources for the maintenance/cleaning up since it's been sitting there empty for about a year now.
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Wed May 18, 2011 9:10 pm    Post subject: Like 0 Dislike 0 Hi partridge! Welcome to forums! You can apply for a deed in lieu of foreclosure in case of both the properties. But unless the properties are sold off, you will remain liable for the maintenance of the properties. I will suggest you to contact the lender and ask him to sell off the properties asap. Feel free to ask if you've further queries. Sussane

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