A little confused on forclosure?

[Mark80]

I filed Chapter 7 and since have been discharged, case closed. Finally after surrendering my home last dec its up for forclosure. The weird thing is I never got any notice to vacate, hand over keys etc. Only these certified mailers (about 10 of them now) stating when the auction will take place.

Is this because I surrendered the home? I always thought I would be warned that I needed to vacate etc? Since they are auctioning off the home come early may will they ever ask me for the keys, or do I just forgot about it all and leave well enough alone?

Lastly, the loans for the home were all in my name, my Wife was not on them. However they keep sending certified letters seperately to both my wife and I claiming that "the legal holder remainder of the debt to be due and payable, as provided in the deed of trust note".

What does this mean and why is she getting letters? If she was never on the loans, but on the actual deed on the home (having joint ownership) does this mean anything as the original loans are under my name and were discharged?

Thanks for any input!

[Mark80]

Anyone know at least the situation with my with on the deed? I don't see how anyone can come after her for the loan when her name wasn't one it. But had read some weird confusing stuff on other threads across the net.

[StartingOver08]

Mark, when the bank is foreclosing they have to 'foreclose out' all the possible parties. That way the lender (usually the first mtg) knows that at the end, they own the entire asset and no one can come in later and say they were not notified.

Many times the summons or foreclosure papers will read Mr X, Mrs X, Tenant 1, Tenant 2, etc etc. It's just the attorney's covering their a**. Since she was on the deed, they want to make sure that her interest in the property is foreclosed out too.

[myhearts07]

Starting Over, How is this going to affect his wife's credit? I too am on the deed/title of the loan we have but not on the actual loan.

Hearts

[StartingOver08]

Since you are not on the loan, the tradeline (loan) does not show up on your credit report so the foreclosure will not show either. Assets do not show on the credit reports.

[fltoo]

Anyone know at least the situation with my with on the deed? I don't see how anyone can come after her for the loan when her name wasn't one it. But had read some weird confusing stuff on other threads across the net.

They won't come after her for the loan. They will come after her for title. As SO stated, they need to foreclose on all people on the title of the property so they own 100% interest on it. If they don't own it outright, an unclouded title, they can't sell it.

If any of you own a house by yourself, you will notice that the lender, in foreclosure, sends paperwork to the "unknown spouse" of yours. The ghostly wife or husband gets the same paperwork that is mailed to you, the owner.

[Mark80]

Ok so to clarify everything, my wife is 100% safe from anyone trying to get money from her since she is "only" on the deed? I think you guys summed that up but I just want to make sure so I can breathe out.