PACER -Notice of Intent to Abandon Property!

[HakunaMatata]

It has been a week since my 341 and I'm finally getting some PACER action! Woo hoo! My trustee didn't forget about me!

During my 341, my trustee indicated he wanted a copy of the Sheriff's Sale deed. Of course, I obliged. My mortgage lender has yet to file to lift the Automatic Stay. Obviously, I haven't received a NOD. Even if the Automatic Stay is lifted in the immediate future, the deed won't be transferred for a few months.

I originally suspected this would delay the closing of my case (should the deed transfer occur after my discharge). I received this today and I'm wondering if my suspicions are unwarranted:

Trustee's Notice of Intent to Abandon property located at XX Money Pit Blvd., Michigan.

If my trustee isn't interested in the underwater (metaphorically and literally -darn sewer!) property, should I expect this won't delay the closing?

Gosh, my trustee is a smart gent. This is surely a property to abandon! My mortgage lender, however, isn't so brilliant.

[AngelinaCat]

That is VERY good news for you. This should not affect your Discharge, nor would I think it will affect your closing date. Do you have any other assets that the trustee is NOT abandoning? Or was 'XX Money Pit' it?

[HakunaMatata]

My trustee seemingly took great interest in my car. He asked countless questions during my 341. This was a bit baffling to me. How could he not know the model when the paperwork was sitting before him? Why was it so important to know the mileage during the time of purchase or the city of the dealership? Regardless, the vehicle is not an asset. I'm break-even to no equity.

I was concerned with a $4500 loan I gave to my sister. My attorney assured me this is exempt. The trustee never mentioned it nor did he mention tax returns or money in my accounts during the date of filing.

I suspect he initially took interest in my house because it is located in a wealthy area. If he ran recent comps, he would readily recognize the lack of value it fosters. Add the countless maintenance/repair issues to this, we're far from asset territory!

Thanks Cat! I'm happy to hear this is good news!

[HakunaMatata]

Just spoke with my attorney. I am no longer required to submit a Sheriff's Sale deed to my trustee. I'm heading toward discharge without a delayed closing!

[backtoschool]

Just spoke with my attorney. I am no longer required to submit a Sheriff's Sale deed to my trustee. I'm heading toward discharge without a delayed closing!

This is GREAT news!!!!!!!!!!!!

I bet you close more quickly than I do!

[southernbelle]

Congratulations!