No proof of claim after surrender

[secondtimer]

What happens if lender can't/doesn't provide proof of claim.

The foreclosure proceeding is a seperate event in a different court.

Will they simply state the debtor surrendered the asset, we don't need proof??????

Who am I surrendering my home to if they can't prove they own the paper?????

[frogger]

Way too much hype in the media regarding lenders that can't "prove" they own the asset. Why would a lender need to file a proof of claim if you have surrendered secured property? They will file for relief from the bk stay, they will foreclose, and that will be the end of the story.

[secondtimer]

Yes, I understand.

My question is if they don't have grounds to foreclose after the surrender what happens.

I guess it's the same as if my aunt had cojones she'd be my uncle.

I'll find out soon what will happen. 341 next week.

[mrbuilder113]

Secondtimer I do not agree with the previous post food for thought what is one to do if one does not know whom the true creditor or party of interest is?
Surrender to the pretender lender?
Not gonna happen here ,I will file an objection to ever seeks relief from the automatic stay and force them through an objection to true creditor status
Although one line responces are generally what you get from people I prefer to at least respond with some helpfull insight as to what I may do in a similar situation
Walking away from your home is considered abandonment and thats just food for thought
A person with no insight to a question should refrain from answering that question
Good Luck and fight you will be surprised what the recourse will be for falsifing info in a bk proceeding

[frogger]

Surrender to the pretender lender?

Not gonna happen here ,I will file an objection to ever seeks relief from the automatic stay and force them through an objection to true creditor status

Have fun.

[secondtimer]

Perhaps the real issue here is whether or not a creditor even needs to file a claim if the collateral is surrendered?

Does a creditor need to file a claim to have the stay lifted or is that a seperate motion?

The objection to creditor status may need to be filed in the foreclosure proceeding as opposed to the BK proceeding. The f/c has already gone to judgement but the sale hasn't taken place yet.

[frogger]

No, the creditor does not need to file a claim. Many times, the creditor will have a representative present at the 341 to ask for relief from the stay. Trustee does the paperwork, judge signs off, relief is granted, and the property is basically then out of the picture as to the bk filing.

Foreclosure starts, followed by the sale of the property.

[secondtimer]

Got it.....Maybe I should jump on the foreclosure forum to see if anyone has experience with objecting to creditor status after collateral has been surrendered in BK.

[secondtimer]

Hey! This is the F/C forum



Been doing a little research since I'm not working (or sleeping) this weekend. If I object to a claim after surrendering the property the trustee could claim abuse. Don't want to piss off the trustee. If I amended the petition to keep the house I'd have to make mortgage payments and arrears in good faith for several months and only then attempt to object to creditor's standing after they file proof of claim. Seems like a waste of money, time and effort. If I'd answered the summons before it went to judgement perhaps the judge would have ruled in my favor but I was all for surrender at the time.

Some changes have been made to section 3001 and passed last winter that allow for lost or destroyed creditor documents so if I force them to produce the note all they have to do explain why they don't have the note in the first place.

Also learned that inaccurate claims that aren't objected to will convey after the BK. Review your claims!!

[secondtimer]

Reviewed POC on PACER, no supporting documents were attached. The only exhibit was something generated by the law firm. Is this because I'm surrendering the asset?

Where on PACER do I find adversary proceedings? Docket report?

Relief from stay also on docket report?

thanks

[frogger]

The only exhibit was something generated by the law firm.

That's all they need to attach to the poc.

[secondtimer]

I'm guessing their attorney will attend the confirmation hearing to have the stay lifted?

[tobee43]

i'm just a bit confused...do you want to attempt to keep this property??? if so, you just don't affirm and pay and stay.


we surrendered our house....it wasn't "abandoned" since you have choices on the petition of what your intention is ...affirm, retain, surrendered, other, etc.

once you have filed an auto stay goes on the property if foreclosure proceeding have already begun..that halts all action.

now, if you wanting to fight the lender as to having true ownership of that property, one would have to fight that in another court room. certain states have judicial foreclosures which means they go through a court process to foreclose, while other and actually many states are non-judicial and can get you out as soon as the stay is lifted from the bk courts fairly quickly (right after the discharge) . i have seen some in calif., snack within less that 90 days they have to be out the door.

here's a blog that lists the states you can see which yours is: http://www.bkforum.com/entry.php?398....-non-Judicial

best of luck with what ever it is your trying to do.

[secondtimer]

At this point my question is when and how will the creditor motion the court to lift the automatic stay. In person at the confirmation hearing or in writing?
I'm in a judicial state.

[tobee43]

At this point my question is when and how will the creditor motion the court to lift the automatic stay. In person at the confirmation hearing or in writing?
I'm in a judicial state.

usually via writing. most mortgage lenders don't show up, however, i'm sure that's not impossible, just unlikely. they may file a request to the court and ask the court to lift the stay, or they may wait it out until the discharge, in which case the stay is automatically lifted. (that's what chase did with us). after the stay is lifted then your lender will continue what ever action they are pursuing. if it's foreclosure, you will usually be served with an intent to foreclose summons, and then the whole process starts. it's not an overnight process in a judicial state, the lender must follow procedure and you have a right to fight it in court at that time.