341 meeting done!

[Jmaddox79]

Hey Guys,

My wife and I filed chapter 7, the meeting went well even though we were called up a whole hour after our scheduled time, Northeast Florida is really busy! We were asked a few questions and sent on our way. My dilemma is our house. We are currently living in it, but plan to surrender the house along with one vehicle. We are not in Foreclosure or Pre-forclosure. BofA just sent a "motion for relief from the automatic stay". My attorney previous told us the trustee may ask us to pay rent. We are underwater, so paying rent is fine, as long as we are out of the mortgage.

Any suggestions would be helpful. We are so ready to move forward!

Thanks

[AngelinaCat]

It sounds like you are well on your way. Congratulations!! Are you in the Jacksonville part of the Florida Middle District? If so, that is our area.

Welcome to the Forum.

[Jmaddox79]

Thanks, that's good to hear! Yes we are in the Jacksonville area.

[OHBOY]

Hey Guys,

My wife and I filed chapter 7, the meeting went well even though we were called up a whole hour after our scheduled time, Northeast Florida is really busy! We were asked a few questions and sent on our way. My dilemma is our house. We are currently living in it, but plan to surrender the house along with one vehicle. We are not in Foreclosure or Pre-forclosure. BofA just sent a "motion for relief from the automatic stay". My attorney previous told us the trustee may ask us to pay rent. We are underwater, so paying rent is fine, as long as we are out of the mortgage.

Any suggestions would be helpful. We are so ready to move forward!

Thanks

I am puzzled as to why attorney told you that trustee may ask for you to pay rent. Are you up to date on your house payments ? I thought that one could just continue to make mortgage payments after bankruptcy and not reaffirming.

[AngelinaCat]

Thanks, that's good to hear! Yes we are in the Jacksonville area.

Who is your trustee? Please don't give the name on the public side. Initials will do. Our trustee was AC--same as my username initials, and I know of a BK attorney--not ours unfortunately--who is also a trustee. His initials are RA.

[Jmaddox79]

My attorney was giving us a heads up on the reputation of some trustees, we are behind on our mortgage. My guess is the trustee will resume responsibilities of the mortgage and act as a middle man between us and the bank. Allowing us to pay rent(at present house value) and continue to live in the home. I'm still learning about the process.

[Jmaddox79]

Who is your trustee? Please don't give the name on the public side. Initials will do. Our trustee was AC--same as my username initials, and I know of a BK attorney--not ours unfortunately--who is also a trustee. His initials are RA.

Initials -> G P. J <- He's a popular one from what I have heard.

[AngelinaCat]

I'm afraid I don't know that one. But if you have heard good things, that is great.

[Jmaddox79]

Now the trustee has scheduled a 2004 exam, the reason being is my personal property may be too low. I have not bought anything new that is valuable, plus all my electronics at present market value is half the price of what I've paid for it.

Also they want to short sell my home(can I fight this, I am not in Foreclosure, but behind in payments and underwater)

My case is good for the average joe who thinks that once you file, have a 341 meeting, wait patiently 60 days, you will have clear debt. Every situation is different.

[jst4f]

Not sure how a short sale would benefit the creditors unless the TT is getting a carve out from the bank or real estate broker. You should get your attorney to look into this some. Carve outs have occurred in MI and WA, as reported to this forum, but I thought they could be fought.

[AngelinaCat]

I don't know that I can be of any help other than moral support.

We had a 2004b Exam, but ours dealt with a preferential insider payment.