QUESTION
What can we do if our house has not been foreclosed on yet?
Asked on Mar 22nd, 2012 on Bankruptcy - Florida
More details to this question:
I filed for Chapter 7 in 2008 and I included our house in it. Everything was discharged in the chapter 7. However, since 2008 the house is still not foreclosed and everything we call the mortgage co and all they're telling us is the home is in Modification, please note, we have not submitted any doc since 2010, we have not made any payments and my mom (who i cosigned on the refinance with before chapt 7) keep requesting a deed in lieu. Cut a long story short, she called this week and was told, there isnt anymore deed/title on the house, we gived that up in the chapt 7, the discharge letter is good and we wont get any doc if we giving the house up. they requested a letter, but wont give us anything to show...is this normal.? can a deed be lost? We are confused, we do not want to abandon the house. I am 31 years old, I got married and moved out of NY and I'm currently in VA. I tried getting a loan, but a question on the app raised a few question i.e. foreclosed date/deed in lieu date etc., which I don't have. We do not want to abandon, and do not want the house. I don't either and I do not want anything to do with it.
5 ANSWERS
Glen Edward Ashman
As I am sure your lawyer told you, you CAN'T make a lender take the house back. So although your discharged the debt, you own the home until and unless they take it back. Unless you were very foolish, and ignored your lawyer's advice, you could have lived in the home for free for all these years and can continue to do so until they foreclose. You should be thrilled with that windfall and not complaining. (Lenders rarely want deeds in lieu).
Answered on Mar 26th, 2012 at 3:04 PM
Bankruptcy Attorney serving Livonia, MI
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Charles J. Schneider, P.C.
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Your discharge does not convey title to your home to the mortgage co.
Answered on Mar 26th, 2012 at 2:39 PM
Bankruptcy Attorney serving Concord, CA
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William Rubendall Attorney at Law
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There is little to do if your lender refuses to foreclose. Send a letter by certified mail describing the situation whereby you do not want to keep the property. Let them know they are jeopardizing the condition of the house in that you no longer reside there. Request a written response.
Answered on Mar 26th, 2012 at 2:29 PM
Chapter 13 Bankruptcy Attorney serving Bloomington, MN
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Gregory J. Wald
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The bank might have a defect in its mortgage that it is preventing it from foreclosing. This requires investigation.
Answered on Mar 26th, 2012 at 2:06 PM
Commercial Bankruptcy Attorney serving Davie, FL
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Law Office of Jeffrey Solomon
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Unless you signed a deed or the bank completed the foreclosure, you still own the home.
Answered on Mar 26th, 2012 at 1:55 PM