Update - minny

[Minnymouth]

Most of you older ones know of my simple Chapter 7 that turned into "pure Hell" that last about 3 years!
Well, I have an update...........
Two days ago I received a "notice of default" and "attempt to collect a debt" from the mortgage creditor discharged in my BK 5 years ago. ?????????
The mortgage lender that caused me all my "grief" -home seized (not forclosed), and then auctioned, etc was this company.
HELLOOOOOOOOO, their debt was discharged in BK!!!!!!! And NOW they are going to "foreclose, start legal proceedings, and stated that they did not recognize my BK, etc"????? WHOEVER handles their past BK accounts - needs an education in bankruptcy procedures..........
I contacted my attorney, he got excited and laughed. He fired a letter off to them, and now we are waiting for their response. He and I are both HOPING they will contact me again, lol.
If they contact me AGAIN................, they better get their "pocketbook ready" because they will be paying ME!!!
When a debt is discharged, it's over....... you don't go back and try to collect it again 5 years down the road!!

As most of you know, I bought my home BACK right after the auction from the people that bought it (free of any liens, etc). I paid for it for 2 years on a land contract, then did a refinance to put everything back in my name.
Just because I "own it again", doesn't mean they can come in and force a foreclosure on an old debt with them............ WHAT ARE THEY THINKING???
So I'm sitting here smiling and hoping their "still stupid enough" to send me another notice of foreclosure and request for payment. "Cross your fingers folks" - all prayers are appreciatedl

Will update you as soon as I know whats going to happen..............

Minny

[kenshirley]

Wow. Some just never give up do they.
I had a friend who had to file years ago. They had a trailer (RV) financed with a reputable bank.
Some months after the discharge and close of the case the bank (not a 3rd party either) called and said that they had sold the RV and that there was a deficiency balance that needed to be paid.
Yes the debt was listed and discharged.
The bank told my friend that he still owed the money and he had better pay or be sued.
Anyway, to make a long story short my friend said he told the lady that called that if they ever called again, or listed this matter as anything other than discharged as part of the BK he would sue them.
He never heard from them again.

[Flamingo]

Sounds like someone screwed up or an audit was done and your matter never closed out on their books. Someone really screwed up big time on this especially after five years! You are safe and sound and there is nothing they can do. I'm sure once they receive another copy of the paperwork they need from your attoroney, all will be well. Someone needs to get organized at your former mortgage lender! Geez!!!

[AngelinaCat]

Prayers and HUGGS, Minny

[robivi3]

Min, I am so sorry to hear that. We are passing a rough road also right now. We sold the little desert acre in Arizona and are holding onto the Tennessee land come hell or high water and the high water is coming. Yep, the melt down has hit my TH complex bigtime! My prayers are with you.

[AMISLANDER]

Minny, why am I not surprised; they're looking for money anywhere "they" can...omg! You go girl!

[JRScott]

Sorry Minny, hopefully they'll get this cleared up, glad your lawyer still around too

[jjsmith]

Filing today- trying not to lose our home.

Our filing day is finally here, and my stress is staring to build!

After 6 years of feeding thousands of dollars per month feeding rentals and failing businesses, we've finally run out of all our cash, except what we can exempt in our IRA's.

So we're surrendering 6 rentals, 4 of which have serious negative equity. The other 2, we believe don't have any equity, but it could be possible the trustee might disagree and try to get money from selling them.

We are trying to keep our house, and I am nervous about the trustee trying to take it. We have 6 young children and are currently supporting my parents as well, so we have a family of 10 that really needs a stable place to live.

We bought this home last Feb for $370K and the CMA we're turning into the trustee comes in at $344K. But I know that not all realtors and appraisers look at things the same and some could probably get comps and get a value over $400K. The house next door just listed on the market for $450K, and I personally think they are dreaming, but you never know.

Our attorney said the reality is that the trustee would need to get $390K+ to get any money for other creditors. That would probably be doubtful in a quick sale, but from reading this thread some trustees can be pretty difficult.

How much effort do trustees take in trying to value assets? My attorney said they could call a realtor friend and ask them to give them a quick value. Is that a standard practice? Are they likely to balk at the CMA I provide them and try to get their own? I know it's different in each area. My attorney, who is a trustee as well, said that the trustees in my area prefer to have a CMA by a realtor than an official appraisal. He said the trustees care what a realtor thinks they can sell it for and want the realtor's opinion.

I read a bit about your terrifying experience with having your house auctioned. I didn't see all the details. Was your home auctioned because the trustee thought there was equity in your home to pay creditors? I can't imagine having to let people come in my home as it was being auctioned off. Your trustee was obviously grumpy about you being upfront about the condition of your house. I think I would give my kids some permanent markers and gallons of fruit punch and let them have a party in the house before the auction and tell the trustee, what do you expect to find in house full of 6 young children??

I'm really hoping that if the trustee thinks there is equity in the home that he would be willing to let us empty our 401K's to try to buy the house back. I don't think we're as blessed as you are to have friends that could possibly help us buy back the house until we can refinance it.

How come you didn't convert your bankruptcy to a Chapter 13? I don't know how exactly that plays out. We do have a good income that's enough to pay our own expenses. But thanks to our current economy our income has been significantly reduced and we no longer have discretionary income to feed our failed investments. I thought Chapter 13 was for people who have discretionary income and I don't know if we could even try to use that option if we don't have any discretionary income, but want to try to use it as an option to keep our house.

Well, I'm trying to be optimistic and look at it that we've been on our roller coaster of debt for 6 years, and we're finally coming to the end. I just hope my family has a home when the ride comes to a halt.