chp 7 and foreclosure

[tmielke1]

I filed a chapter 7 and surrendered my home, the bankruptcy was discharged in nov 09 and the home is still in my name the loan was through chase. I talked to chase and they told me the home will go to auction in July but it did not and now they sold the mortgage to a company called IBM, and they sent me a letter stating that I need to put insurance on the home. Whats the deal will this house ever be out of my name? Im still paying assn. dues for this home

[yomann]

Are you still living in the house ?

[tmielke1]

no it has been vacant for over a year

[yomann]

ASAIK, HOA dues and insurance are the responsibility of the homeowner, which is you until the title changes and is recorded.
If you were still living in the house, it would be cheap rent.
Dumb question: Can you move back in ?

[tmielke1]

I dont know if I could move back in, if I would of did my homework I would of never moved out, I just cannt believe it has been almost a year since my discharge and its still my home, seems crazy

[Twin02]

tmielke1,I am still in the house 2 years after Chapter 7 discharge. Who ever owns the loan is not foreclosing so I am responsible for the dues and insurance so I have not moved out.My loan was sold to SLS and they said I need more insurance on the house and now they are reporting me lat on my credit report as late. I disputed the debt since it was discharged and they and the credit bureau came back with the debt is VALID!! BEWARE watch your credit reports and fight back. They can have my house but I am intitled to my fresh start after BK 7.

[tmielke1]

tmielke1,I am still in the house 2 years after Chapter 7 discharge. Who ever owns the loan is not foreclosing so I am responsible for the dues and insurance so I have not moved out.My loan was sold to SLS and they said I need more insurance on the house and now they are reporting me lat on my credit report as late. I disputed the debt since it was discharged and they and the credit bureau came back with the debt is VALID!! BEWARE watch your credit reports and fight back. They can have my house but I am intitled to my fresh start after BK 7.

WOW, thats not cool, what really sucks for me is that I dont live there, my lawyer told me after my discharge I most likely had 3 months before they threw me out, guess he didnt know what he was talking about, it has been over a year now, if I was not in a lease I would just move back in and sty for free.....

[SMinGA]

You are responsible for HOA - but not insurance. Your policy would have been canceled by your insurance co. as soon as they were aware it was vacant. The mortgage co then puts insurance on it & bills you - but the ch. 7 would have taken care of that.

Notify this new company that you filed ch. 7...

[shell]

So what you are saying is that even after you give up your house in a chapter 7, you are still responsible for the house until the title is removed from your name?

[feelingnutsy]

Hi---shell---this is absolutely correct.

[tobee43]

shell...yes and no....we r going through this exact same thing now.....

once you surrender your house in chapter 7...you have given the bank back their collateral....i.e. if you gave back the car and you still had a loan on and it was still worth 20k but they sold (the lien holder) it for 18k....they have the car and MUST write off the 2k deficient.

well...i now have a bank also...will not take our names off although the mortgage was indeed discharged in the bankruptcy...i have NO further financial obligation to them ...now understanding that once you rec'd the order approving the tustee's report of no distributions, that property immediately reverts back to us YUCK!!!!!!

ok...so now i attempt to be pro active and call the bank and say...( WE HAVE NO HOA FEES).........and let me add we have been out of the house and state for over 9 months.....the bank has been caring for the house the entire time.....(just a sideline of info).....so i call them and say this is a government backed loan.....i understand there is a process you must follow to recoup your monies from the feds...however, i am not insisting you do a transfer of deed.....the term..."deed" in lieu scares the banks to death...for example most people who ask for a deed in lieu may have purchased their property for 760k...and it's now worth 200k....they want to walk away and want the bank to eat the difference.....

well this is absolutely NOT the case in a discharged mortgage....they have ALREADY discharged the debt in the eyes of the federal court system and they cannot continue to collect.

i personally, found a watchdog fed banking office, where they are attempting to contact the bank to get this done and in the meantime...this week will be filing a complaint with the feds for fraud and misuse of federal monies...because that's what these banks are doing....i am, since my loan was also government backed filing a complaint with HUD and FHA....once again for misuse of federal funds and harassment.

when i spoke with the bank i told them they can't have it two ways....i want them (and i will put it in writing this week), to immediately cease any more maintenance on the property and they are NOT to step foot on it until the deed is transferred out of our names. we relinquish all liability if they chose to continue to maintain the property while the property is still in our names.....period...what ????the bank the bastards want and GOT the house, car, our lives, and blood..there is just no more to give....no way......

i already spoke with our insurance company and they said it's the bank's responsibility now.


our attorney simply says...we will file a motion for creditors misconduct.

[JacaG]

So getting the house out of your name is hard after chapter 7? Has anyone been able to get the title out of their name with in a decent time frame after filing?
We are filing either August or Sept and I am trying to decide whether to apply for deed in lieu before filing since I want the house out of our name asap.

[goodyphilips]

This is new that even after you went for chapter 7, you still have ownership in your name and you can live happily with out any overheads. If this is true then we can see a burst in chapter 7 cases in future

[tobee43]

we have two properties with respect to this situation.

after posting yesterday, i'm glad to report bank #2....did send a warranty deed and release for the property......so ONE down and ONE to go....


the mortgage debt is discharged....however, the deed remains in YOUR names....thereby when the trustee closes the estate the property reverts back to us....and yes, until there is a foreclosure or a deed transfer the property says in our names.

this is going to be tons of paper work for one bank....again...we will not be financially responsible for anything associated with the foreclosure, however, these banks are milking the government for these costs...so i have to really work to get them to work with us... it appears nearly impossible with this one bank....but i'll keep going!!

[tmielke1]

ok heres an update, I got a call from IBM, the new mortgage company, they want to do a deed in lieu, is it safe to do this? will I have to pay tax on any shortfall or will my BK cover it?