Foreclosure of Interest to the Trustee

[RLOPE]

When I initially met w/ my attorney and we were going through my financial history, assets and liabilities... I mentioned the fact that I had undergone 2 foreclosures in 2008. My attorney said that that would definitely be something to make the trustee aware of.

Would those foreclosures have any effect on the BK or its outcome?

[newbie2]

"Make the trustee aware of" probably refers to making sure that the debt is on the bankruptcy schedules. And no, it won't affect your bankruptcy outcome.

[tobee43]

in a way i do not understand why the atty feels it needs to be "mentioned" unless on your states petition there is a direct question relating to a specific time period dealing with the foreclosures...i'm just curious as to why one would have to mention it at all, unless there were an unusual amount of costs and or fees directly affiliated with the foreclosures of 2008 that you are listing as creditors???

[angles]

From the filer's perspective it should be listed to make certain the debt will be discharged. The timeframe for a bank to file a claim varies by state and could be years. You don’t want to go through a BK and then get sued two years later. From the Trustee's view, if you are an asset case then they may have a claim with the Trustee and should have that opportunity to file.