Comments for National Bankruptcy Forum

Comment on I Surrendered My House in Bankruptcy, You Mean To Tell Me I Still Own It? by Chiirp

Chiirp — Wed, 25 Apr 2012 20:32:36 +0000

I have a question. I filed chap 7 and recieved a discharge in 09 we left the home and the bank states that they will not foreclose on the property until my husband is no longer active duty which is in 6 years. So after learning this we decided that we will rent the property out. However, I have never paid property taxes and when I looked into if I owe I found out that Chase has been paying them. Also, I cancelled my homeowners insurance after discharge. Now since the property has been vacant for 3 years and there has been a 3 years lapse I can’t obtain homeowner insurance or tenant/landlord insurance! Do I need it if I wanna rent out the home? Geesh

Comment on The psychological effect of staying in your home after bankruptcy by Chiirp

Chiirp — Sat, 21 Apr 2012 00:47:20 +0000

Same boat. Filed chapter 7 and all was discharged in 09. We surrendered the home. 3 years later still own the home. Bank will not foreclose because we are military. They told us they will not foreclose until a year after my husband is no longer active duty, which is in 6 years. I couldn’t believe my ears. We were trying to buy another home and begging them to foreclose but, they said no. Could have been renting it now for 3 years. They said we could short sale to ket it out of our name but, I’m not eating the 1099c on earned income~ I will wait it out.. can save.. by the time the foreclose I will have enough to buy a home with cash.

Comment on I Surrendered My House in Bankruptcy, You Mean To Tell Me I Still Own It? by Alice

Alice — Fri, 06 Apr 2012 17:53:36 +0000

My house was included in a chapter 7 bankruptcy but I kept paying as I was not ready to move yet and did not want to be surprised. I am In the process of buying another house but was unsure about any responsibility I might have after leaving besides homeowner dues.

Comment on I Surrendered My House in Bankruptcy, You Mean To Tell Me I Still Own It? by Moderator

Moderator — Wed, 04 Apr 2012 22:19:55 +0000

If the debt was included and discharged in bankruptcy there is no tax liability. Only reason to go through with short sale would be to get home out of your name. Talk to a lawyer before signing anything!!

Comment on I Surrendered My House in Bankruptcy, You Mean To Tell Me I Still Own It? by Moderator

Moderator — Wed, 04 Apr 2012 22:18:48 +0000

Lily, that sounds terrible, but you’ll need to consult a lawyer. We can’t offer legal advice on this forum and we’re not a law firm.

Comment on I Surrendered My House in Bankruptcy, You Mean To Tell Me I Still Own It? by M

Wed, 04 Apr 2012 04:18:51 +0000

Went through bankruptcy 1 year ago. House foreclosure still has not gone through… after 3 years. Question. Will there be a tax penalty if I am able to short sell the property? The bank is encouraging it, but will I take a hit if I do this? I wonder, after 3 years, if some of my important bank paperwork has been lost in the shuffle. A short sell would put an end to the process. Just wondering if the bankruptcy that is one year old (the house was included) would afford me the tax break via the 2007 Mortgage and Debt Relief law? Thanks!

Comment on I Surrendered My House in Bankruptcy, You Mean To Tell Me I Still Own It? by lily phan

lily phan — Tue, 03 Apr 2012 19:14:16 +0000

i am already discharged from bk with chapter 7 in April 10!!! HOA still follow me with the charge of $34000 !!I already surrend my house and it is in active foreclure!! My name is still on the titles!!! What can i do? Please help me !!! i already consult with my BK attorney!! there is nothing he can do!! the law past 2005 HOA still can follow the owner even if it is in the process of foreclore the house
Thank you for helping me!! i have two kids that i have to feed!!! Our family is going through disater now

Comment on I Surrendered My House in Bankruptcy, You Mean To Tell Me I Still Own It? by christina

christina — Sun, 01 Apr 2012 19:52:47 +0000

we filed chapter 7 and included the home 2008 we moved out of the home in 2006 and now in 2012 they say the bank wont forclose because they dont want to pay back debt.what do we do

Comment on Will the Bank Foreclose After I Surrender My House in Bankruptcy? by Georgianne robinson

Georgianne robinson — Sun, 01 Apr 2012 11:27:37 +0000

How can I get the surrender property back?

Comment on I Filed Bankruptcy, My HOA Is Suing Me… by Mark Aalam

Mark Aalam — Thu, 29 Mar 2012 17:15:57 +0000

You can talk to the lender and see if they will accept a deed from you transferring the property back to the lender. Unfortunately, sometimes lenders prefer to sit and wait a while before foreclosing, which means you remain on title and liable for HOA fees as long as you are on title. Another option is to sell, or do a short sale. That way you can get your name of title and end your liability for HOA fees. Mark