The owner of record is responsible for taxes and upkeep until a deed conveys the property into another name. The owner will be responsible from the Bankruptcy file date until the date of Trustee's Sale- even if the original sale date is postponed.
Yes, bankruptcy protect you from foreclosure by your mortgage company. You can read more at www.hirby.com/mortgage-lender-filing-for-bankruptcy
Depends on if the loan is actually secured by a Deed of trust (which has become much more popular) or by an actual mortgage.
No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.
You are responsible as long as you are the legal owner of the property, Bankruptcy usually discharges certain debts including property related debts. If the mortgage company chose not to exercise their foreclose options then you may still be the legal owner of the property. Depending on the property valuation the mortgage note holder may have determined it more profitable not to proceed with a foreclosure process. Additionally; If fines were already issued prior to a foreclosure, you would still be liable for payment of those fines as well.
The estate is responsible for the mortgage.The estate is responsible for the mortgage.The estate is responsible for the mortgage.The estate is responsible for the mortgage.
Her mortgage liability will be discharged.
No, generally you cannot reinstate a mortgage after it has been discharged in bankruptcy. Once a mortgage is discharged (typically under Chapter 7), the borrower is no longer personally obligated to repay the loan. However, the lender, including Dream Home Mortgage, still retains a lien on the property, meaning foreclosure is possible if payments are not made. In some cases, you may be able to work with the lender, like Dream Home Mortgage, to reaffirm the mortgage during bankruptcy, but this usually must be done before the discharge. After discharge, reinstatement is not possible, though negotiating a new loan or modification with the lender could be an option. Consulting with a bankruptcy attorney is advised to explore alternatives.
A home is not discharged in bankruptcy. The mortgage(s) and home equity loans, lines of credit, etc., are discharged, but you have to abandon the real estate in the bankruptcy. That means the mortgagee can go ahead with a foreclosure if there was none before the filing, once the Chapter 7 is closed. Chances are the mortgagee would ask for relief from stay to go ahead with the foreclosure. The trustee may get any excess from the sale, unless it was exempted.
You need to consult with an attorney. If you have not filed bankruptcy then you may be responsible for paying the mortgage you co-signed.You need to consult with an attorney. If you have not filed bankruptcy then you may be responsible for paying the mortgage you co-signed.You need to consult with an attorney. If you have not filed bankruptcy then you may be responsible for paying the mortgage you co-signed.You need to consult with an attorney. If you have not filed bankruptcy then you may be responsible for paying the mortgage you co-signed.
A foreclosure or bankruptcy is never good for your credit, this is something you'd be better off discussing with an attorney. You can avoid foreclosure by filing bankruptcy.
Same as a bankruptcy There are actually companies that will work with you for free to buy your mortgage away from your mortgage company and avoid your foreclosure.
If it was discharged, then you don't owe it anymore. However, you can't just assume that any particular debt was discharged by the bankruptcy, it has to be specifically listed. In particular, you probably cannot keep your house AND get your second mortgage discharged.