surrendering house/abandoning tues - what do i need to know?

[jonisk]

hello all - my 341 is on tuesday and we are abandoning the house. it's not empty really. has a bit of furniture & stuff in it. we don't have to get it spic & span, right? leave it up to whoever to deal with the stuff that we can't get rid of?

also when can i cancel my insurance? when i sign surrender papers?

what else do i need to know that i'm not thinking of?

[jonisk]

sigh. has anyone else surrendered their house?

update - for the lots of people who have read this (and i guess who are curious), here's an old helpful thread

http://bkforum.com/showthread.php?t=610

[jal1129]

You might try looking under the foreclosure threads. Since its a holiday weekend I've noticed that a lot of the regulars are'nt around. Someone will probably be able to answer after the holiday, if not before.

[poorme]

I lost my home after the d/c and the bank initiated foreclosure. Either way, the loan was erased in the ch 7, so when I left, I made sure I had all my stuff and didn't worry about cleaning, painting, etc. Just take your stuff and leave and don't look back. They'[re going to hire someone to clean up and fix up anyway to make it marketable. As for insurance, yes, cancel it as soon as you sign the surrender papers, you may in fact get a small refund from the insurance company. I found out later that the bank and their realtor agent took their sweet time getting the house fixed up and by the time they did, vandals had moved in and tore it up inside - gosh, hate to hear that.

[BassBoy]

I wouldn't cancel your home insurance just yet. Until the house sells at Sheriff's Sale and is turned over to the buyer, you are responsible for the home. You MUST KEEP your insurance current. More than likely, and if your insurance premiums were included with the mortgage payments, your insurance is paid in advance from the escrow, so for now, you should be covered. I would put a call in to your insurance provider and check to see if the premiums have been paid, and if not, you may want to explain what's going on and see if you'll need to pay the premiums or if the current mortgage holder will continue to pay the premiums.

As for what condition the house should be left in, don't bother cleaning it up. Just make sure you've cleared out all of the belongings you wish to take. The new owner will take care of freshening up the home for re-sale.