I'm hoping someone will be kind enough to help me with this. I received my discharge today... yay! I included a rental home in the Ch 7 BK and indicated I was surrendering it. I stopped payments at the time I filed and have missed 4 months. I have a tenant in the property and the property management company has held the rent in escrow since I filed. Now I am wondering what to do as I go forward. I am sorry that I surrendered the house and not sure of my options.
1. I called BofA and was told that they would not accept payments since the debt was discharged, but it may take more than 6 months to foreclose.
2. Given that they will foreclose anyway, and that the tenants lease is up in 3 months, there will be 3 more months of rent coming in to the property manager.
3. I believe the property manager will begin sending me the rent again after the discharge. I was hoping to use this money to get current and keep the house but this doesn't seem to be an option now.
4. Do I collect and keep the rent until the tenant leaves? Does the place have to be vacated at the time of the discharge or will I have use of it until the foreclosure?
Sorry for so many questions. Hoping someone can help
1. I called BofA and was told that they would not accept payments since the debt was discharged, but it may take more than 6 months to foreclose.
2. Given that they will foreclose anyway, and that the tenants lease is up in 3 months, there will be 3 more months of rent coming in to the property manager.
3. I believe the property manager will begin sending me the rent again after the discharge. I was hoping to use this money to get current and keep the house but this doesn't seem to be an option now.
4. Do I collect and keep the rent until the tenant leaves? Does the place have to be vacated at the time of the discharge or will I have use of it until the foreclosure?
Sorry for so many questions. Hoping someone can help
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