IN REM foreclosure

[Phil]

Chapter 7 case closed one year ago. Did not reaffirm mortgage(s). Was trying to stay in home but it was a huge payment in a no equity situation so I had to let it go. State PA, which is judicial foreclosure.

Knowing it was not reaffirmed and that I want the property to be done with already, I have not responded to any of the motions regarding foreclosure. The motions reference it being included in bankruptcy and that they are not seeking personal liability.

Received another motion this week to allow WF to adjust the amount of the liability for the property. They want to update the amount to include taxes, escrow shortage, and insurance.

On the motion it clearly states this is IN REM only and not for personal liability. I know in rem means for the property and this is typical when it was included in bankruptcy. I just received this motion to have the amount updated....do I need to respond at all?

It is set for sheriff sale 1/7/11 and they want the updated amount to be accurate so the bidding is as close to that amount as possible. I was upset when I received this motion, because of always feeling like an emotional roller coaster and want to finally be able to move forward, but now that I have calmed and collected myself, I am sure I don't need to do anything but wanted to run it by here as you all provide excellent guidance. Since it specifically states IN REM and was not reaffirmed, do I need to do anything??

Thanks.

[tobee43]

personally...if it were me, i would not respond since it's going to sheriff's sale, the bank should have verified all costs and fees and included that with their starting auction price when it goes to auction in jan. and, actually, they, the banks can really only be the ones that know that exact amount if you have not been paying the back taxes, insurance, etc.

if you had a atty for your bk, i would give them a call and sell what they say. i think WF is attempting to just update the opening bid to cover cost....but if someone knows anything more..i'm sure they will chime in..

[AngelinaCatHub]

Jurisdiction in rem (Latin, power about or against "the thing") is a legal term describing the power a court may exercise over property (either real or personal) or a "status" against a person over whom the court does not have "in personam jurisdiction". Jurisdiction in rem assumes the property or status is the primary object of the action, rather than personal liabilities not necessarily associated with the property (quasi in rem jurisdiction). http://en.wikipedia.org/wiki/Jurisdiction_in_rem


They are adjusting the property. Nothing to do with you personally. 'Hub

[researchnerd]

I wouldn't worry about it. As long as the mortgage was IIB, all your personal responsibility for paying the debt disappeared when you were discharged. Any adjustments they come up with are just numbers, not anything you need to deal with.

[Phil]

Thank you all! When I am not reacting emotionally, I know it is procedural and a normal part of the whole process. When I think (overthink) things, I get nervous. You have eased my mind immensely. Thanks again.

[tobee43]

Thank you all! When I am not reacting emotionally, I know it is procedural and a normal part of the whole process. When I think (overthink) things, I get nervous. You have eased my mind immensely. Thanks again.

good to hear phil...yes, this is a time of emotional highs and lows...it's just the experience itself is quite stressful. it's only because your honest and it's just a difficult situation.

it will go just fine..you'll see.

[tcreegan]

Hi Phil,

We got some papers from the lender, I jumped on the phone ready to cuss someone out but it turned out that they were just keeping us in the loop, nothing we had to do...

Tom in Colo