chapter 7 discharged; ownership of a house?

[2muchstress]

i thought when chap 7 got discharged, i no longer am liable with a house the bank took back. apparently not as a rep once said bankruptcy doesnt really clear you out of what i owe them.

how is this possible???

they bought the house on an auction! why is it still in my name with balance still due in a county record, and credit report....?

is this legal?

[keepmine]

You have no liability for any deficiency balance on the debt that was discharged in bk.
Not really sure about how the account is recorded.
You can dispute the balance due showing on your credit report. It should read zero balance and included in bk {IIB}.

[2muchstress]

what is relief from stay mean....? that mortgage company asked my bk court that, and court said ok... not sure if that has to do with this..

[keepmine]

Relief from stay means, they are asking the bk court for permission to proceed with foreclosure. Has nothing to do with any liability that would attach to you.

[HHM]

That rep is an idiot.

[2muchstress]

thanks, guys-
hugs.

i will await until equifax etc places work on my disputes ....and will call to find out status... hopefully credit agencies can get it straight for me.... will keep ya'll posted.

[southernbelle]

That rep is an idiot.

Nice.....We were all thinking it, but I'm glad you said it. He is an idiot. What's the point of filing bk if it doesn't relieve you of your personal liabilities for the house, especially if they took it back.

[2muchstress]

just a quick updates and im still puzzled. ok, so i found that the bank finally sold the house (bank foreclosure sale?) a week ago or so. i checked my credit report again (transunion) and this time, there was an update by this bank.

instead of 370k as a balance it used to show, now it is around 30k (reduced). i see that whatever the sale price minus other costs etc. became 30k, and indymac is charging that to show in my credit report as 'i still owe them'.

i see that i have to persistantly dispute with 3 credit reporting agencies to correct some items still showing as "open" while 1 other report says "closed" etc.

so now my question is, alright, chapter 7 is discharged in feb. bank sold something, so they cannot officially go after the balance, right?

even from irs.gov i think it says, no 1099 if someone is bankrupted/insolvent.

indymac wont be able to come after me but as a revenge (?) they will report to credit agencies that i owe that balance (for next ten years?).

im lost ...unsure how it all works out like this...

has this happen to anyone?

[2muchstress]

great... just an update... i found out today. i had to call indymac again to see where the acct/house stand with me. rep said i dont need to worry about it, yet indy is still trying to sell the house (??) so wow.................. still. they bought it on trustee's auction i guess... yet since they bought it, it's still under my name as open and current bal owe as 370k in their syst. but they r tryn to sell it even until then my credit rpt will still reflect as is.

ahhhhhhhhhhhhell whatever. she said id ont have to worry; thinking i owe them that much anyways

bk court while back 'relief from stay' so they can foreclose on... im so mixed up with all these time collapses

[Cali]

The rep was a pea for brains to tell you that in the first place.