QUESTION
How can I sell my house if I had a chapter 7 bankruptcy discharged about 2 years ago?
Asked on Jun 11th, 2013 on Bankruptcy - Minnesota
More details to this question:
Mortgage was discharged in bankruptcy therefore I am not paying mortgage. How do I find out how much I still need to pay to the bank to clear the lien, to deliver clear title of the house? Is the interest still accruing on the mortgage even though it was discharged?
8 ANSWERS
General Practice Attorney serving Coeur d'Alene, ID
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Michael B. McFarland, PA
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The bankruptcy discharge did not wipe out the debt or the accruing interest; it just relieved you of personal liability for it. If a foreclosure has not occurred yet, and the property is still in your name, you may be able to sell it (assuming there is some equity there), but you may have problems talking to the bank yourself, because of the bankruptcy discharge. Usually, a title company can get the payoff information from the bank.
Answered on Jun 11th, 2013 at 9:52 PM
The lender will need to perform the calculations to determine the balance on your mortgage. Even though you do not personally owe anything to the mortgage company, the property does owe this money & the lender is still entitled to charge the property with payment of interest, late fees and penalties.
Answered on Jun 11th, 2013 at 9:52 PM
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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Most likely the debt is still attached to the house, even though you obtained a discharge. Talk to your bankruptcy attorney.
Answered on Jun 11th, 2013 at 9:52 PM
Bankruptcy Attorney serving Florissant, MO
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Law Offices of Thomas Corcoran Phipps
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If you are using a real estate agent or company to sell the house, I would have them contact the mortgage company to find out how much you owe on the house. If you still have the house, the mortgage was not discharged.
Answered on Jun 11th, 2013 at 12:34 PM
Chapter 7 Bankruptcy Attorney serving Appleton, WI
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Sisson & Kachinsky Law Offices
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Call your bankruptcy attorney which you used. You should be able to get rid of that debt since you surrendered the home.
Answered on Jun 11th, 2013 at 11:35 AM
Bankruptcy Attorney serving Alpena, MI
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Carl C. Silver Attorney at Law
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Check with the mortgage holder and tell them you have a buyer for your house and need to know balance owing. I am sure there will be interest added. Make sure there is some equity left to make it worth your time.
Answered on Jun 11th, 2013 at 10:12 AM
Deborah F. Bowinski
You should speak with an experienced realtor who can help you determine whether you can sell for enough to pay of the loan. If the lender has not yet foreclosed then you may be upside down with the lien. A realtor may also be able to help you put together a short sale.
Answered on Jun 11th, 2013 at 10:11 AM
Chapter 13 Bankruptcy Attorney serving Bloomington, MN
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Gregory J. Wald
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You must contact the mortgage company for a payoff figure. Interest does continue to accrue on the mortgage company's lien against the house.
Answered on Jun 11th, 2013 at 9:55 AM