If someone could attempt to answer this, i would appreciate it. I filed Bk 7 in 4-11, my home was scheduled for a foreclosure auction in 8-11. The sale supposedly went through, but since the lender never filed a lift of stay nor has the house been abandoned by the bk trustee, the sale was cancelled. I had 5 days to vacate at the time, at which i did. I had the electric/water turned off, and now the house(pool/grass) is sitting vacant and going to crap.My question is, I, as a real estate agent was wondering if I could contact the mortgage lender and see if I could list it as a short sale? I have a question in for my attorney on whether they could request a motion to abandon the house from the trustee, so I could list it. Is this possible and will I still have financial responsibilty for the deficiency on the short sale even though the house was listed in my bk??? any help would be greatly appreciated.
-
-
What is causing your case to still be open?
In any event, to answer your question, is it "possible" yes, is it "likely", no.
If you still own the house, you can list it for sale at any time once you get permission from the trustee. You don't need the banks permission. The bank only cares about a short sale when there is an offer submitted, but before that, the bank doesn't care, it will do what it will do.
Getting a stipulation from the bankruptcy trustee to abandon (and depending on your attorney, whether that will cost you more money, very likely), is a different issue.
Generally, depending on the issue, a phone call to the trustee's office may be enough to get a stipulation to abandon the property if it has no value. -
what could be causing my case to still be open is a good question also, is this normal? It is listed as a no asset case on pacer, there is some vacant land involved, but no one has filed anything since the 341 meeting on 4-10-11, can either a creditor or the trustee still consider it an asset case after this and can the trustee determine that there are assets of value and sell them? I thought that there was a time frame for motions and requests that had to be filed for anything to be sold and the funds divided amoungst the creditors & trustee?Comment
-
Ruttie,
IMHO there is no benefit to the short sale. It will take you months and months of hard work to even get the lender to think about it. You did not reaffirm. You have no liability on the debt. The only thing you need to deal with, if you have one, is the HOA. Other than that, unless the county or city comes in due to weeds or a dangerous pool, there is nothing for you to do but wait it out.
Des.Comment
Comment