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After chapter 7

Posted on: 15th Aug, 2011 05:44 am
question: i filed for chapter 7 bankruptcy in oct 2009 and being discharged in jan 2010. i included my morgage property in the bankruptcy. but recently my mortgage company sold my account to a new company and they have posted bank adjustment / deed in lieu / bank liquidation on my credit. is this possible? what steps should i take to get this resolved? i am rebuilding my credit and this is the last thing i want on there. please help!!!
Hi Lshayw,

I guess you haven't reaffirmed the mortgage. In such a situation, you're not personally liable for the mortgage payments. However, the lender still holds the lien on the property. Now, the lender has sold off the debt to a third party. If you don't wish to keep the property, you will have to surrender it and let the third party foreclose it or go for a deed in lieu of foreclosure.

Posted on: 15th Aug, 2011 07:12 pm
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