Anyone have experience with surrendering a house back to Chase in a Ch 7?

[tyson24]

Just wondering how long they take. We have been in foreclosure for 2 years and had countless sheriff sale dates but the foreclosure process was canceled in May of this year indefinitely. They are now sending pre-foreclosure notices again.

[doudis2]

We have not paid Chase since 11/09. We moved out and got a tenant on 12/10. They did have a trustee sale date scheduled for back in 6/10, but the Ch 7 automatic stay put the kibosh on that. Now we are discharged and still no word from Chase. They never asked for relief from the automatic stay.

No worries yet as we still have a tenant and are still collecting rent. If Chase don't want it back then I'll just keep it rented out.

This can't last forever, but it is kinda cool right now.

[tyson24]

Yeah we have a tenant in right now that pays regularly. It would be nice to continue that for a while (although they like to complain because we are in foreclosure...like their roof should be free because of that fact) and we claim it as income on our taxes so I don't see a down side unless they stop paying the taxes and insurance. They are escrowed so I am not sure how that works. I read some threads on here about surrender and still getting bills because our names are still on the title until they take possession. If they wanted possession I think they would have taken it by now.

[tcreegan]

Hi tyson24,

How long depends on the local real estate market, might be more profitable to have someone in the house "holding" it instead of it being vacant. I have seen 2 yrs and still waiting in several posts on the forum. Check with the insurance company to find out if the policy is being paid. Since you aren't paying into it anymore, the escrow will get emptied and then it is anyone's guess as to what Chase is going to pay. If the taxes don't get paid, they just become a lien against the house. But liability insurance is important to have on the property until your name gets off the deed.

Tom in Colo

[tyson24]

They are paying the taxes and insurance. they are escrowed and not sure if it has anything to do with that?

I want that house gone. But because I do, I am sure they won't take it for a while. I just do not want to pay the water bill anymore!

Does anyone know if Chase will show up to my 341 because we are surrendering?

[tobee43]

Just wondering how long they take. We have been in foreclosure for 2 years and had countless sheriff sale dates but the foreclosure process was canceled in May of this year indefinitely. They are now sending pre-foreclosure notices again.

well...yes, or maybe NO??? we got our first foreclosure notice, never answered it....left within the time frame. our atty said lock and leave it, but we notified them......that was 2 years ago...the house is still not foreclosed...or let me re phase that...it has not been put up for sheriff's sale as yet, so the deed is still our names.

tried to get chase to do a warranty deed with release...they don't even have clue what that is....so depending on where the house is i suppose it may make a different in when they force you out.

i know that chase are sorry than heck with us.....i guess the reason they aren't even attempting to sell ours may be the following:

the water table changed after the town fixed the street and now FLOODS the house
the cracked foundation
the black mold that is caused by the new flooding
the frozen broken pipes
the house needs all new electrical work
the house needs a new septic tank
the house needs a new oil tank

just for name a FEW reasons!! here's to Chase!

[tobee43]

oh!! and no, they did not show up at the 341....no, they did not keep calling or writing us threatening letters...

shoot, i can't even GET them TAKE IT!!

[tyson24]

HAHA! Yeah that would be a good reason for Chase not to want it ;)

Ours I think are title issues. They sent me some Mod paperwork a few mos ago (even after being in foreclosure for 2 years) and the return address was the research department. That may mean something or nothing.

In 2005, our loan was sold from a small mortgage company (no longer afloat) to Chase. I think the paperwork was fumbled. I am not one of those people that thinks (LOL) that because my title, deed or whatever appears to lost that I get the house free and clear, but something is definitely up. I just want the house gone and out of my name.

Kind of like that roller coaster that you want to get off of really bad.

Hopefully they take possession of yours sooner than later

[tobee43]

tyson...i have been working on it for months....i'm been working with a joke of a "watchdog" govenment agency about the situation.

i sent chase a certified letter telling them we are no longer liabible for ANY person they have maintaining the property and to enter at their own risk. while i understand we have no financial obligation to chase as they are aware, i also have made it perfectly clear if they won't take my name off, then STAY OFF the property.

nothing's work...the watchdog agency is a BIG JOKE....just another scam to extort our "stimulas" monies into the hands of those least needing money...YUCK!! i could go on forever!!!

i have decided beginning next week just to leave well enough alone....we did have another property with another bank and when i sent them a signed general release and warranty deed releasing the property they promptly called and thanked me for making their job easy....soooooooo one down and one to go!

[tyson24]

Yeah, Chase is a joke! They just do not want the REO from what I understand. The thing that sucks for me is that I have tenants in there that are paying rent. So I either kick them out so I can stop paying the dang water bill or I don't know what to do. In some ways, I wish they had foreclosed!

[tobee43]

Yeah, Chase is a joke! They just do not want the REO from what I understand. The thing that sucks for me is that I have tenants in there that are paying rent. So I either kick them out so I can stop paying the dang water bill or I don't know what to do. In some ways, I wish they had foreclosed!

ahhhhhh so this is rental property. tell the tenants to pay the water bill directly...won't that work???