Foreclosure, bankruptcy, end of the line or beginning?

[paranoidjack]

OK so....

New to the forum, I'll try to make this quick and thank you in advance for any replies.

in 2003-2005 I made roughly six figures. I purchased a property in MA (my first home) with a mortgage of over $2k. This was no problem until the economy tanked, I lost my job, and my income was reduced to 30k in 2007. I lost my job at the end of 2008. 2007,8, and 9 so far have been very difficult years to keep the house. I have liquidated my 401k, (only 29 years old), my stocks, borrowed 15k from a personal friend, but am unable to catch up.

They were going to sell my house yesterday 8/27/09, but I filed chapter 7 on Tuesday and staved it off (for now). My attorney had told me that a 35k personal debt would be discharged, which was removal of the seller's second on the house because I needed to refinance - in 2006, I contacted the P/O, we moved the lien to a personal contract so I could refi out without losing that 35k to her. Septic system, heating system, tons of stuff NEEDED to be done.

Now she's moved away. No clue where she is. Attorney never mentioned I needed her address. Now he's telling me I'm on my own for the 35k and there's nothing he can do without her address.

HER address? An Address? I really didn't want to file chapter 7 to remove only $4,100 of unsecured debt!!! I NEED to discharge that 35k, as I'm going to lose the house anyway and it's fake money tied to the inflated property value of the house! Any input?

Also, I have a friend who is willing to buy my house at auction up to a certain amount and then rent it to me for the long-term, which I'm fine with. Am I better off waiting until the foreclosure auction and having him there, or calling the loan servicer and see if they'll do a short sale with him for his price?

Thanks in advance....

jack

[LSUTiger32]

Wow, this is one of those situations that it's going to be hard to do without an attorney. I would suggest finding another one, because the one you have isn't working.

[mike258]

I'm confused. You had a $35k loan with the previous owner?

[music12]

how long ago did she move? if less than a year, just put down her prior address. the post office will forward. or, go to the post office with her prior address and request the new one. or, you can mail her a letter certified, and the signature you get back will also have the new address.

bottom line: if you have a person's prior address, it's not too hard to find the new one unless they are trying to hide it.

[paranoidjack]

Allow me to clarify:

No, she moved out when I purchased in 10/05. But to avoid PMI, and because I could only be approved for 35k less than purchasing price, we had a second mortgage from her (seller's second). A year later, I had to refinance to replace roof and heating system, and to get the money from the house, I needed her lien lifted and moved to a personal note instead. We did that, have a signed contract, and I was able to refinance.

So, the last address I have for her is from documentation at the registry of deeds from 2006.

[LSUTiger32]

Allow me to clarify:

No, she moved out when I purchased in 10/05. But to avoid PMI, and because I could only be approved for 35k less than purchasing price, we had a second mortgage from her (seller's second). A year later, I had to refinance to replace roof and heating system, and to get the money from the house, I needed her lien lifted and moved to a personal note instead. We did that, have a signed contract, and I was able to refinance.

So, the last address I have for her is from documentation at the registry of deeds from 2006.

So this person is owed $35K by you and she didn't bother to give you her new address? Odd.

[paranoidjack]

So this person is owed $35K by you and she didn't bother to give you her new address? Odd.

Yeah, tell me about it. She is an interesting person to say the least. Very nice woman but a bit unique.

Anyway, it seems to have been in her best interest NOT to furnish me the information!

[LSUTiger32]

Yeah, tell me about it. She is an interesting person to say the least. Very nice woman but a bit unique.

Anyway, it seems to have been in her best interest NOT to furnish me the information!

You know her name right? I am also sure you know her previous address, right? Do some Google searching and use one of these sites that searches for people. Even if it costs you $30 heck I'll take that anyday as payment in full on $35K! ;)

[paranoidjack]

Seems to be the only option. She's not much of a computer person, so I'm sure it'll take more of a professional sleuth like one of those agencies. I've already Googled to no avail, what's worse is her name is common.

So, does anyone think it's realistic that that could have the auction as soon as 10/15? The inital sale date was 8/27, I filed 8/25, and my attorney said he didn't think they would move that fast. I'm trying to figure how much time I have to plan accordingly.

[LSUTiger32]

If she listed a phone number where she moved to, she should be easy to find. Do you have any idea where she might have gone?

[music12]

you can still get the new address from the post office using her previous address, even if it is from 3 years ago. certainly worth a try.

[filingsoon]

Try ussearch.com, they list some of the old addresses of people (free) before you have to buy the report (fee charged) so you'll know you have the right person. Look for your current/her old address then you should know it's her. If she has a current utility bill then she should show up in their database.

[DebtEnder]

If you just filed they can't do anything until the get a hearing for relief of stay. That takes at least a couple of weeks. After that the counter begins again so odds are they won't get a auction sale date until near new years I bet.

But for the creditor put last know address. If the debt is old like 3 years or so and you end up being no asset there is nothing she can really do anyways. If you end up being asset case then she may be a bit miffed if she can't get a chance to file proof of claim.

However if she expects repayment you would think she would have SOME form of contact with you in order to collect. But I've seen an heard some weird things that people do.