Filing Bankruptcy On Investment Property

[ykvoca]

I'm planning to file bankruptcy chapter 7, I do have an investment property with a first and second mortgage, the property went already on foreclosure, what amounts do we need to include in the bankruptcy papers, is it the original amount, or I need to call them to find out what we currently have outstanding which I guess will include attorney fees and all late payments and other nonsense, or the amounts does not matter so much as the name of the mortgage company, once the name is included regardless of what the amount, it needs to be wiped off.

[tobee43]

the amount is not as important as the correct address so proper notification is given and correct account numbers.....

amounts change daily...added interest...fees....penalties etc...on many of our accounts we would just list the creditor, CONFIRMED correct address, account number and amount "unknown"....

[tcreegan]

Hiykvoca,

I agree w/ tobee, the address is the most important thing; so they get notified of the BK. Assuming you are surrendering the property, the exact amount becomes even less important. You can put 'est.' or 'as of [date]'

Hope you have dug out from that last storm!

Tom in Colo