QUESTION

if I filed bankruptcy chapter 7 and my home loan was included in the discharge do I now own the house?

Asked on Dec 17th, 2013 on Bankruptcy - Florida
More details to this question:
I have a discharge and all loans against this house have been discharged. Where do I stand in regards to the ownership of this home? I haven't heard anything from the bank and I'm still residing here. Is it my home now because of the bankruptcy chapter 7 being discharged?
Report Abuse

1 ANSWER

Bankruptcy Attorney serving Burbank, CA
Reviews not shown
3 Awards
You have a common misunderstanding of what a discharge is and does.  It does NOT remove liens against your property.  Unless you obtained a separate order avoiding the mortgage liens (which you cannot do in a Chapter 7 case), then all the discharge did was remove your obligation to pay on the underlying debt, but the lien against the property remains.  Thus, if you fail to make the required payments on your mortgage, they can exercise whatever rights they have under your state's laws against the property (usually foreclosure). My article on what happens to mortgage debts after discharge may be of interest to you.  
Answered on Dec 19th, 2013 at 12:05 AM

Report Abuse

Ask a Lawyer

Consumers can use this platform to pose legal questions to real lawyers and receive free insights.

Participating legal professionals get the opportunity to speak directly with people who may need their services, as well as enhance their standing in the Lawyers.com community.

0 out of 150 characters