Forclosed but BofA Doesn't want Title Change

[aljohnson007]

One property, Mobile Home, surrendered in my Ch7 which is about $30k underwater. It was forclosed on Sep 1st and the Fl District Court scheduled the sale on Oct 7th to the highest bidder. BofA cancelled the sale and I can only conclude the reason is that when the ownership changes, the HOA/Maint. fees along with taxes, etc. will be their responsibility so they let it sit and I continue to pay the fees (but not the taxes). Is there any way to force BofA to change the title and is there any way I can get out of paying the monthly fees? Appreciate any ideas.

[iv65536]

Do the fees give rise to a lien on the mobile home?

[aljohnson007]

It does and that brings up an interesting point. When BofA held the 1st mortgage, it was superior to other liens but now that BofA owns the property, the HOA could file a lien and forclose to satisfy their fees. Does that make sense?

[LimpDisc]

What happens if you quit paying the fees? It's not your property anymore, so why should you pay the fees? Do you still live in the mobile home? Just my opinion, but I wouldn't continue to pay the fees on a property I surrendered. What does your attorney think?

[aljohnson007]

I don't have an attorney but did pay for a consult re this subject. HOA/Maint fees are the responsibility of the recorded owner and that is why BofA doesn't want to record the transaction. I will talk to the park owner next week and see what he thinks.

[StartingOver08]

Did the mobile home deed include the land? I am assuming so since the bank foreclosed on the property rather than 'repossessed' the mobil home.

You could do something to get it out of your name (I usually DON'T recommend this): file a quit claim deed with the clerk of court to the EXACT name of the lender on your note/mtg. You would have the proper owner from the aution sale that will occur on Oct 7.

I strongly suggest you waiting until after Oct 7 to record the Quit Claim deed - we are only talking a few days here. Also, it takes a little while for the deed to show the new name once the auction takes place. Some places are busier than others, normally the transfer will show up within about 30 days of the auction.

[aljohnson007]

Hello.....I mentioned they cancelled the sale and that is what this is all about.

Also, you cannot file a QCD without stating "consideration" in the transaction. In other words, I can't say in "consideration of $10.00 and other valuable bla, bla, bla." If I did a QCD and filed it, BofA would have every right to object and could open up a whole new can of worms.

[PdxDavid]

Hopefully someone can give some more insight to this. We are surrendering our home in an HOA as well. My attorney said:

You can include back dues up to the filing date in the bankruptcy, but we are responsible for the dues from the file date until the change of ownership.

I have read that even though we are responsible that some banks when they finally do sell the place pay the back taxes/fees to clear the deed. I wouldn't count on it though.

[poorold]

aljohnson,

yeah, everything I've read says you are responsible for HOA till the title changes.

but upon foreclosure, the bank needs clean title so they usually pay the fees and that's that.

I know people on here also state that you should pay insurance, but my question is WHY????

After all, even if the loan note requires you to carry insurance, the loan note (and any financial obligations therein) have been discharged in bk. If the property is destroyed, so what??? The mortgage (lien) is on the property and if it is destroyed, the lien is not enforceable (I think.)

Clarifying comments welcome.



ps--although HHM thinks I don't have a leg to stand on, I took the Quit Claim form and modifed it by calling it "Notice of No Further Interest or Claim" and then stated on there my wife and I filed BK, the property was surrendered and the property was also in foreclosure so we were giving up all rights, title and interest effective with our bk filing date and ownership of the property was currently subject to a ruling of the courts and that any property record evidencing me or my wife as owner was not valid after the date of our bk.

The document was duly accepted and recorded in the county property records by the clerk of courts.

I also live in Brevard County.

I then sent a copy of that recorded notice to both my homeowners' associations and asked them to update their records as my wife and I no longer "owned" the property. I haven't received a bill for HOA dues since then.

[aljohnson007]

Poorold, appreciate very much if you will send me a copy to my PM. Did you get your discharge yet?

[StartingOver08]

Hello.....I mentioned they cancelled the sale and that is what this is all about.

Sorry I missed that they "cancelled" the sale in your post.

Also, you cannot file a QCD without stating "consideration" in the transaction. In other words, I can't say in "consideration of $10.00 and other valuable bla, bla, bla." If I did a QCD and filed it, BofA would have every right to object and could open up a whole new can of worms.

The QCD has nothing to do with the size of the consideration. The quote you are making has to do with the tax collector's office requiring the proper amount of doc stamps on the deed at the time it is filed. You are right, they do not want to accept $10.00 and other valuable consideration...the tax collectors office is looking for the full amount of doc stamps on the deed. This goes for any type of deed recorded.

[Bell30656]

Tell Bank of America that you will be moving back into the home or renting it out since it is still your home. Then they can go through an eviction process if they desire but as long as it is in your name you intend to treat it as such.