QUESTION
How can I sell my house after bankruptcy if the mortgage was not reaffirmed but we are paying the same monthly payment?
Asked on Sep 25th, 2015 on Bankruptcy - Michigan
More details to this question:
We have never missed mortgage payments during this entire time. Debt was discharged 2 years ago. Husband only filed bankruptcy, not me. We continue to live in the house.
6 ANSWERS
Bankruptcy Law Attorney serving Austin, TX
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Law Office of Susan G. Taylor
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Sure, you can sell it. It's still your home.
Answered on Oct 13th, 2015 at 8:55 PM
There should be no issue. If there is, see an experienced lawyer (both real estate and bankruptcy). I have handled both matters for the past 38 years. You will, of course, have to pay for the legal advice (me or some other attorney). Good luck!
Answered on Sep 30th, 2015 at 12:19 PM
Be assured, the title company will not have a problem paying off your mortgage from the escrow and paying you the difference between the cost of sale and the purchase price. The lien, which is also called your mortgage, remained to protect the lenders interest despite your bankruptcy. You should be able to rely on the lender to provide an honest accounting of your payments, but it you are concerned, obtain a copy of their records and take it to your accountant.
Answered on Sep 30th, 2015 at 5:05 AM
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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If the sale will pay off the mortgage, then the bankruptcy won't matter. If the sale won't be enough to pay off the mortgage, then you'll need to arrange a short sale or have the cash to pay it off at closing.
Answered on Sep 30th, 2015 at 5:04 AM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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I would think so but would have to review the details to be sure.
Answered on Sep 29th, 2015 at 6:35 PM
You can sell. Bk is not a factor.
Answered on Sep 29th, 2015 at 6:35 PM