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You filed chapter 7 bankruptcy 3 years ago If you foreclose now on your house can they still come after you for money after a auction?


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Wiki User
2007-05-19 16:41:45
2007-05-19 16:41:45

If you reaffirmed the debt during your bankruptcy case, or if you signed new mortgage/note paperwork after your bankruptcy, then they CAN generally come after you for a deficiency balance if the home does not sell for enough to pay off the debt. If you did NOT reaffirm the debt during the bankruptcy case, or did NOT sign any new notes afterwards, then they usually can NOT come after you for any deficiency balance from a foreclosure sale afterwards. Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts and law, which I do not warrant, and I am not suggesting any course of action or inaction to any person. Speak to a lawyer for specific advice. If you have any questions, please refer to a lawyer in your jurisdiction. Thanks!

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