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Foreclosure after Chapter 7 Discharge

My husband and I filed for bankruptcy in September 08 after I lost my job. We did this to eliminate our unsecured debt and free up the cash to continue to make our house payments. Our attorney petitioned Citi Mortgage to reaffirm our mortgage. Our bk was discharged in December and I pulled our credit report to see that the mortgage account has been closed with a zero balance and was included in our discharge. Citi has told us that we can reaffirm IF the judge reopens the case and we were told by our attorney that he will not. We can continue to live here and make payments but they will not be reported. If we are essentially "renting" our home now, we can rent something much nicer for far less (we bought at the height of the bubble in 2007 and our house is not worth almost $50K less than our mortage is for). My question is this...if we walk away can the mortgage company report a foreclosure on a loan that was already discharged? Should we do a DIL - do we even have to do that since the mortgage was discharged. We were told by our attorney that we should act quickly if we are going to give up the house so it is seen as one hit. Any help would be greatly appreciated. Thanks.

jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi kk,

As you haven't reaffirmed your mortgage, you are not personally liable for the mortgage payments. You can surrender the property to the lender by signing a [url=http://www.mortgagefit.com/quitclaim-deed.html]quit claim deed[/url]. The lender will foreclose the property to sell it off and recover his dues. Unless the lender sells of the property, you would be liable HOA maintenance payments and taxes.

Thanks

Like | Dislike | Share | Posted: Sat, 08/14/2010 - 00:49

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Are you sure they report the foreclosure on your credit report? If they do cant you get it removed legally?

Thanks
Scott

Like | Dislike | Share | Posted: Fri, 01/29/2010 - 03:48 | Post subject:

Niicss's picture
Niicss | Joined: October 3, 2005 11:54 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Help,

As the mortgage was included in bankruptcy, the lender will not be able to come after you for the deficient balance after a short sale. Moreover, the lender has given it to you in writing that they won't sue you for the balance amount so you shouldn't worry about it.

Hi gmeyer,

Your query has been replied to in the given page:
http://www.mortgagefit.com/inprocess/about34994.html#151068

Take a look at it. Hope it helps you.

Like | Dislike | Share | Posted: Thu, 02/18/2010 - 02:55

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I filed for chapter 7 and was granted full discharge in oct 2008. my property, both 1 &2 lenders loans included. I surrendered the property in the bankruptcy at that time. The property deed and loans are still in my name, as they (GMAC) have not forclosed or even set a date for auction as of today!

My question relate to this..................
I have a motivated/interested buyer............GMAC is willing to negotiate with them to make a short sale of the property vs. forclosure..........But they wont do it unless I submit a FULL short sale packet to them, complete with hardship letter AND the also want to know all of my current financial, checking and tax info included. As i have already surrendered said property and been discharged from any financial responsibility, will giving them all my new info and financials ( we have since moved 3500 miles and had to relocate to another state to find jobs and get reestablished) make me somehow responsible again for any or all of the debt relating to this possible transaction???? Is ther some form of hidden reaffirmation responsibilities hidden in theese short sale packets they want???

Like | Dislike | Share | Posted: Sat, 02/20/2010 - 13:47 | Post subject:

smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Guest!

Welcome to forums!

As you haven't reaffirmed the mortgage, you can surrender the property to the lender and request for a short sale. However, you should note that the short sale may be reported in your credit report and you may have to wait for 2-3 years in order to [url=http://www.mortgagefit.com/Mortgage-Basics/do-i-qualify-for-a-mortgage.h... for a mortgage[/url].

Feel free to ask if you've further queries.

Sussane

Like | Dislike | Share | Posted: Mon, 08/01/2011 - 23:26

smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Guest!

Welcome to forums!

As the mortgage was discharged in Chapter 7, you are not personally liable for it. If the lender forecloses the property, then you won't have to pay the deficient amount.

Feel free to ask if you've further queries.

Sussane

Like | Dislike | Share | Posted: Wed, 12/02/2009 - 20:34

smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi EdieA!

Welcome to forums!

As far as I can understand, the mortgage has been discharged in the bankruptcy filing. However, the lender has the rights to foreclose the property in order to recover the balance debts. As the mortgage is in the name of your husband, foreclosure will be listed in his credit report.

Feel free to ask if you've further queries.

Sussane

Like | Dislike | Share | Posted: Thu, 08/11/2011 - 21:45

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

We filed bankruptcy a year ago and was fully discharged. Both mortgage creditors were informed (we have two houses). That time, we can keep both. Now with a bad renter, even with a loan modification, we can only keep one. What will happen if I foreclosed one of them? Are we still liable for deficiency judgement?

Like | Dislike | Share | Posted: Mon, 03/22/2010 - 11:04 | Post subject:

Niicss's picture
Niicss | Joined: October 3, 2005 11:54 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

As you haven't re-affirmed your mortgage, you can simply walkaway from your property. The lender will foreclose the property and recover as much debts as possible. He won't come after you in order to recover any further deficient amount. After a bankruptcy discharge and foreclosure, you may have to wait around 3-4 years to qualify for a new mortgage.

Like | Dislike | Share | Posted: Tue, 01/10/2012 - 00:49

adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Welcome Elizabeth,

Though the mortgage was discharged in your bankruptcy filing, the lender still holds the lien on the property. If you stop the loan payments, he can foreclose it. As far as I know, the foreclosure after bankruptcy may have a negative affect on your credit report.

Like | Dislike | Share | Posted: Tue, 10/12/2010 - 23:59

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Can I walk away from the my house after chapter 7?

Like | Dislike | Share | Posted: Tue, 10/18/2011 - 04:17 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Scenario:

Discharge is coming up shortly
Mortgage is included in BK Discharge
After Discharge can I still do a Short Sale on my home? I'm strictly just trying to take advantage of the HAFA benefit to help me move. In otherwords does my Lien Holder BOA still have to comply with HAFA after my Discharge?

Like | Dislike | Share | Posted: Thu, 03/10/2011 - 13:54 | Post subject:

Niicss's picture
Niicss | Joined: October 3, 2005 11:54 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

After your mortgage is discharged, you can still do a short sale on your home. You can surrender the property to the lender and ask him to sell it off. The lender may not have to comply with HAFA.

Like | Dislike | Share | Posted: Fri, 03/11/2011 - 01:48

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Reading your post relieved me tremendously. I got a discharge in 2010 and did not reaffirm any mortgage. I had rental properties and a joint property. I am glad to know that the ensuing foreclosure will not be on my credit report and that I can start rebuilding my life again. Yes there was a divorce involved. It was the the toughest time of my life.
I am saving for a down payment so my kids and I can have a home in a few years.
Good luck to all

Like | Dislike | Share | Posted: Thu, 02/17/2011 - 22:48 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Here is my situation and then question. We are a BK7 with a primary mortgage and a rental property. The rental was foreclosed on without issue during the chap. 7. We retained the house on the pay to retain program, but it was still included in the chap. 7. We are upside down $230k. We have a second mortgage with a $90k Balloon due in 9 yrs. We live in a neighborhood that is still being developed with new homes being built right behind us for literally half what we owe on ours. Since we are chapt. 7 is there ANY benefit whatsoever in trying to conduct a shortsale, or pursuing a Deed In Lieu? Both of these would recquire the 2nd place mortgage holder to simply release or forgive that note ($90k) and then the process of listing the property for 90 days, and either finding a buyer and or receiving permission for Deed in lieu. But based on the above remarks, if we simply walk away there is no more negative affect on the credit than what the Chap. 7 did and we are already at 680 less than a year out of BK7. So if there's nothing more negative of an impact then why would we pursue a forgiveness, and go through the headaches of a short sale??

Like | Dislike | Share | Posted: Wed, 08/24/2011 - 13:05 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Last year me and my husband had to file br (fresh start) but we decided to keep our house and not inclued it with the rest of our bills. now we are having a big problem been having this house on the market and not even one offer. and on topo of all this our house even if sold would not cover the mortgage . so me and my husband are thinking to just give it up . can we still do this? our because we filled for bankrupcy we cant walk away from it? and if we do walk away can they make us liable for something? thank you for any advice

Like | Dislike | Share | Posted: Tue, 08/17/2010 - 20:33 | Post subject:

adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Welcome semm,

Your query has been replied to in the given page:
http://www.mortgagefit.com/inprocess/about52917.html

Take a look at it. I hope it will help you.

Like | Dislike | Share | Posted: Wed, 08/24/2011 - 22:36

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My husband had his house discharged in 2005 from his previous marriage...the exwife still lives in the house and he just checked his credit report and the house is listed once as discharged, the a second time as foreclosure proceeding were started in 6-2011? Can someone tell us what this means? The exwife claims his name is still on mortage and cant be taken off because he wont reaffirm the debt as advised by his lawyer...says its too late to do that..any advice?

Like | Dislike | Share | Posted: Thu, 08/11/2011 - 16:05 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I went through chap 7 for my debt. Did not include my home, tried to work out restructure with my lender to no avail. I have a first and a second with the same lender. What are my tax liabilities for next year

Like | Dislike | Share | Posted: Mon, 05/20/2013 - 16:41 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Sussane,

I have a same different situation with Robby. Only difference is we never reaffirmed the 2 mortgages. Now we're thinking of foreclosing one. Do we have to pay any deficiency judgement and taxes in the end?

Thanks,

Lee B

Like | Dislike | Share | Posted: Wed, 03/24/2010 - 13:18 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

my husband and I filed chapter 13 in 06 and converted to a chapter 7 in 07 we included our mortgage in both 13 and 7 and walked away from the house. We were dicharged in March of 08 and the mortgage company proceeded with forclosure in may of 08 and sold the house in June of 08. Now our credit says forclosure and we cannot get a mortgage? Do we have the right to fight this?

Like | Dislike | Share | Posted: Wed, 12/09/2009 - 11:41 | Post subject:

jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Lisa,

As you had reaffirmed the mortgage dues, you would be responsible for paying the deficient balance resulting from the sale of the property though your bankruptcy has been discharged.

Thanks

Like | Dislike | Share | Posted: Wed, 04/14/2010 - 01:56

smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Sheeba!

Welcome to forums!

You can surrender the property to the lender if you have included it in your bankruptcy filing. The lender will foreclose it and recover as much dues as possible. He won't come after you in order to recover the deficient balance as the loan has been discharged in your bankruptcy filing.

Feel free to ask if you've further queries.

Sussane

Like | Dislike | Share | Posted: Tue, 10/18/2011 - 23:11

smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Guest!

Welcome to the forums!

I don't think you will be liable for 2013 HOA fees, 2013 homeowner insurance and/or 2013 real estate taxes. However, you should still have a word with your bankruptcy attorney and take his opinion in this regard.

Feel free to ask if you've further queries.

Sussane

Like | Dislike | Share | Posted: Wed, 03/27/2013 - 23:21

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I filed bankrupty on my Condo in Illinois, Dec. 2011,and now I lost my job and can't pay the mortgage and assessments. I want to stop paying both, will I still owe the HOA? Please help.THANKS

Like | Dislike | Share | Posted: Fri, 11/09/2012 - 15:55 | Post subject:

jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi rosalinda,

Though you filed bankruptcy, you can still walkaway from the property. However, if you do so, it would result into a foreclosure which will have negative affect on your credit report. You can retain the property and get an affordable payment plan by applying for a loan modification.

Thanks

Like | Dislike | Share | Posted: Tue, 08/17/2010 - 23:56

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Our Bk was discharged in 11/09, this month I was contacted to do a short sale on my home since I am still on title. The short sale is approved! I have a letter stating from lender that they will not go after me for and more monies anfd that the acct is settled. My question is can ANYONE come after me for anything since this debt was already included in the bk? I know i will get a 1099..but is that it. I'm I opening a can of worms Im I really ok to do this?

Like | Dislike | Share | Posted: Fri, 01/29/2010 - 14:45 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I have been discharged from Chapter 7 for six months (Louisiana). The home that my ex-wife and I shared is going up for sheriff sale this month(November 2010). My ex-wife has not filed for bankruptcy on this property. My question is, am I responsible for the balance of the mortage after the sheriff sale?

Like | Dislike | Share | Posted: Wed, 11/17/2010 - 19:28 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Our bankruptcy was dischared 2/08. We did not reaffirm our 1st or 2nd mortgage. We can no longer afford this home and are late on both loans. We just found out that we don't qualify for a modification and they cannot help us. If we don't catch the payment up they will forclose. My question is: Which is better, deed in lieu of or just walk away? Whatever is suggested how will this effect our credit report? Will it be a double wammy? How long would it be before we could purchase a more affordale home? Since our bankruptcy we have reestablished our credit score to be very good, but I don't want to hurt it again. Any suggestions?'

Like | Dislike | Share | Posted: Mon, 01/09/2012 - 09:46 | Post subject:

adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Kaysee,

Though your bankruptcy has been discharged, the lender still holds the lien on the property. You are required to pay off the delinquent amount to the lender. You have left the property but did you officially surrendered the property to the lender? If you surrender the property to the lender, he would sell it off at a foreclosure auction. Once the property is sold off, then you won't be liable for any other dues. I guess, the property has not be sold and it's still showing in your name. As a result, the credit report shows that your are delinquent on your mortgage payments.

Like | Dislike | Share | Posted: Fri, 10/09/2009 - 23:26

adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Welcome milad,

You can file Chapter 7 once in 8 years. So, if you had filed your previous [url=http://www.mortgagefit.com/bankruptcy/chapter7.html]Chapter 7 bankruptcy[/url] filing more than 8 years back, then you can do it now again.

Like | Dislike | Share | Posted: Thu, 02/14/2013 - 20:46

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

we filed bk 7 last dec 2009 and was discharged april 2010. but, untill now the house it is still in our name. my questions are 1) when will they remove our name as owner of the house, 2) why they continue to collect hoa fee on us, considering that we left the house one year ago for fear of being evected, 3) do you think, it is worth to short sale the property now that it is discharged already. help.....

Like | Dislike | Share | Posted: Fri, 09/03/2010 - 11:37 | Post subject:

smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi sstarnes!

Welcome to forums!

I do not think you have much ground to fight. Though you walked away from the property and got your bankruptcy discharged, the lender was still holding the lien on the property. Thus, he foreclosed the property to recover his dues. This foreclosure would be definitely mentioned in your credit report and will also lower your credit score. However, you won't have to pay the deficient amount resulting from the sale. Thus, you're unable to get a mortgage right now. You'll have to wait for 3-4 years after a foreclosure to get a new mortgage.

Feel free to ask if you've further queries.

Sussane

Like | Dislike | Share | Posted: Wed, 12/09/2009 - 23:35

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I have a similar problem. We filed for CH 7 Bk and discharged 11/2006. The house was included in the CH 7. No reaffirm. We left the house before the BK discharged. The house shows on the CB as "foreclosure, debt included in CH 7 BK" and has reported that way since 11/2006. For some reason, the Mortgage company updated the reporting, didn't change anything other than the report date to 05/2009. When we went through Automated Underwriting today, we got kicked a Approved-Referred because of late mortgage payments. The home has not been ours or our responsibility since 11/2006. Can they do this?

Like | Dislike | Share | Posted: Fri, 10/09/2009 - 19:43 | Post subject:

adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Benze,

As the mortgage got discharged in your bankruptcy filing, the lender will not be able to come after you for the deficient balance.

Like | Dislike | Share | Posted: Sun, 02/13/2011 - 22:44

smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi!

Welcome to the forums!

To sandy,

The lender has the rights to foreclose the property unless you pay off the dues. You may not modify the loan unless you have reaffirmed your [url=http://www.mortgagefit.com/bankruptcy/chapter7.html]chapter 7 bankruptcy[/url] filing. In the present situation, it will be better if you could move out of the property and let the lender surrender it.

To Elizabeth,

As you haven't reaffirmed your property, it will be easier for you to walk away from the property. Also, the lender will not be able to come after you for the deficient balance resulting from the sale of the property. Even if you walk away from your property 2-3 years after your bankruptcy filing, you will still be protected.

Feel free to ask if you've further queries.

Sussane

Like | Dislike | Share | Posted: Wed, 06/19/2013 - 21:58

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

our bankruptcy was discharged in 11/09 we have a first and [url=http://www.mortgagefit.com/second-mortgage.html]second mortgage[/url] we reaffirmed the first mortgage and did not with the second mortgage the second mortgage holds a lien on the property. we have not made a payment to our second mortgage and they are threating to foreclose on our house. can they do that if we are still making payments on our first mortgage?

Like | Dislike | Share | Posted: Wed, 02/17/2010 - 07:28 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My husband and I filed for [url=http://www.mortgagefit.com/bankruptcy/chapter7.html]Chapter 7 bankruptcy[/url] in 2008. It has since been discharged. We did not reaffirm our mortgage, however continued to make our payments. Unfortunately, we are no longer able to afford our payments, trying to clearly understand if this will affect my credit. Currently, our credit reflects the mortgage as being included in the Chapter 7 with a zero balance owed.

Like | Dislike | Share | Posted: Mon, 05/03/2010 - 09:42 | Post subject:

adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Guest,

If you are the owner of the property, then you will be liable for paying the HOA dues. If your property is sold off and transferred to the new buyer, then you won't be liable for the dues.

Like | Dislike | Share | Posted: Sun, 11/11/2012 - 21:18

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

i am 2 months behind on my home equity afterbeing discharged on a chapter 7 first mortgage with the same bank is up to date will the mortgage co foreclose for 2 months in arrears.

Like | Dislike | Share | Posted: Wed, 10/06/2010 - 08:38

adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi justjg,

As you did not reaffirm the loan, you won't be liable for paying off anything to the lender once you walkaway from the property. There won't be any extra charges for it. The lender will simply foreclose the property in order to recover as much dues as possible.

Like | Dislike | Share | Posted: Thu, 03/24/2011 - 23:51

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

received chapter 7 discharge in BK..lived in house for almost 1 year and paid mortgage..can't pay now ...if I walk away am I responsible for the HOA fees and the taxes....and for ahow long?

Like | Dislike | Share | Posted: Mon, 08/23/2010 - 13:58 | Post subject:

sara's picture
sara | Joined: July 5, 2006 03:16 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Lee,

As you haven't reaffirmed your mortgage with your lender, you are not personally liable for the loan. The lender will be able to foreclose the property but he will not be able to sue you for the deficient balance resulting from the sale.

Take care.

Like | Dislike | Share | Posted: Thu, 03/25/2010 - 02:14

adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Tenli,

Your query has been replied to in the given page:
http://www.mortgagefit.com/inprocess/about35162.html#151611

Take a look at it. Hope it helps you.

Like | Dislike | Share | Posted: Sun, 02/21/2010 - 23:31

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

How did you notify your renters and did you allow them to stay until some one made them leave

Like | Dislike | Share | Posted: Fri, 01/14/2011 - 18:13

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

--------------------------------------------------------------------------------

My chapter 7 was discharged 12/08. House was discharged with 0 balance. I still make my monthly payments on time to live there but have had so many problems with the house- I lost 1/2 of my home -the sellers did not disclose water/flood problems and my entire finsihed basement was destroyed 3 months to the day I bought my home. To make it worse, they hid black mold behind walls)

I have been making due with 1/2 a home and gutted basement. I was recently remarried, now a family of 4 and would like to start over. The value has dropped over $50K on what is owed and we are very frustrated. I understand that I am not obligated to pay since the property was completely discharged but that the bank can foreclose on the house if we leave.

We found a home that is for sale by owner who is willing to wait until the date when my discharge will be 2 years. If the current house has already been discharged with a 0 balance and it does foreclose or I request a deed in lieu 1) will the foreclosure/deed in lieu show on my credit report even though it was discharged? 2) will it prevent me from being able to get a new mortgage if we decide to stop payment/abandon the property?

Like | Dislike | Share | Posted: Mon, 08/02/2010 - 12:33 | Post subject:

smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi jas!

Welcome to forums!

Once the lender forecloses the property and sells it off to someone else, your name will be removed from the property deed. As your name is still mentioned on the property deed, the Homeowners Association will contact you for the fees. You can contact the lender and apply for a short sale. If the property is sold off, the lender won't be able to come after you for the balance amount resulting from the property sale.

Feel free to ask if you've further queries.

Sussane

Like | Dislike | Share | Posted: Fri, 09/03/2010 - 22:31

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

They can't come after you if the debt was discharged. They can't report debt as included in Bankruptcy and then foreclosure- only IIB. Reporting as foreclosed after is violation of bankruptcy injunction and discharge order.

Like | Dislike | Share | Posted: Wed, 05/05/2010 - 16:40

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Me and my Husband had filed a chapter 13 and payed $2,000.00 per month for 3 years we then decided to divorce so we converted chapter 13 to a chapter 7 we did that about 9 months ago. Im not leaving at the house he is , have not made a mortage payment for 7 months. While in chapter 13 we had are house on the market for a year. meanwhile my exhusband diceded to start a short sale were i finally go involved with the realestate attonrey who questioned why i was doing a short sale when we filed chapter 7 and has been dicharged . My question is are we liable for any thing or should he just get out of the house and let the mortage company worry about it .

Like | Dislike | Share | Posted: Thu, 09/09/2010 - 18:12 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

we filed for bankruptcy in 2008 and discharge of debts was in april,2009. we cannot afford to keep our house. the mortgage lenders were on the discharge debts list. should be call the lenders and let them know we are vacating the property

Like | Dislike | Share | Posted: Tue, 12/15/2009 - 00:27 | Post subject:

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