Okay, Now We Feel Threatened!
Okay,
I know I posted about this two weeks ago.
Our BK was discharged in July and closed.
A man from our mortgage company called me (Bayview Mort). He said that our loan had been transferred to him because our stay had been lifted.
He wants us to do a deed in lieu for the property.
I explained to him that our private financial information was just that...private and that we would be willing to sign a deed in lieu with no strings attached, period.
He then told me that I should consult my attorney because Indiana is a "deficiency state" and that they could garnish my wages and I could be held responsible for the remainder of the balance due after the sale of the home if there was an outstanding balance.
I explained to him that I don't know what else you want me to say other than I gave up my home I lived in for 15 years. I had to file bankruptcy. I also explained that we were just getting to the point where we felt like we could move forward in our lives and that through our bankruptcy we had been relieved of the responsiblity of the debt on the mortgage. What more do you want from me. I also confronted him with my knowledge of the expense to his company for going through the whole forclosure process. He just laughed at me and told me to go talk to my attorney. He said as long as the house is still in our names, it's our property and they have the right to go after it, and that asking them to assume a loss through forclosure is not acceptable, and that he was prepared to pass this along to their attorneys if neccesary.
We owed 81.000. I figure it might be worth about 70,000 now with the neccesary repairs and updates.
Part of me is really angry, but part of me is scared.
This is the LAST THING we need right now. We actually have a savings account established, my husband has gone back to work part time, we are actually living within our means and the stress is very minimal. Of course, my attorney's office is closed until monday.
Any insight here?? What should be the next step? I told him I would call him back next week.
Thanks you guys!
TheBrokeCouple - Indiana
I know I posted about this two weeks ago.
Our BK was discharged in July and closed.
A man from our mortgage company called me (Bayview Mort). He said that our loan had been transferred to him because our stay had been lifted.
He wants us to do a deed in lieu for the property.
I explained to him that our private financial information was just that...private and that we would be willing to sign a deed in lieu with no strings attached, period.
He then told me that I should consult my attorney because Indiana is a "deficiency state" and that they could garnish my wages and I could be held responsible for the remainder of the balance due after the sale of the home if there was an outstanding balance.
I explained to him that I don't know what else you want me to say other than I gave up my home I lived in for 15 years. I had to file bankruptcy. I also explained that we were just getting to the point where we felt like we could move forward in our lives and that through our bankruptcy we had been relieved of the responsiblity of the debt on the mortgage. What more do you want from me. I also confronted him with my knowledge of the expense to his company for going through the whole forclosure process. He just laughed at me and told me to go talk to my attorney. He said as long as the house is still in our names, it's our property and they have the right to go after it, and that asking them to assume a loss through forclosure is not acceptable, and that he was prepared to pass this along to their attorneys if neccesary.
We owed 81.000. I figure it might be worth about 70,000 now with the neccesary repairs and updates.
Part of me is really angry, but part of me is scared.
This is the LAST THING we need right now. We actually have a savings account established, my husband has gone back to work part time, we are actually living within our means and the stress is very minimal. Of course, my attorney's office is closed until monday.
Any insight here?? What should be the next step? I told him I would call him back next week.
Thanks you guys!
TheBrokeCouple - Indiana
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