Liue
Liue
Back in 2008 I was under financial hardship I could no longer pay my mortgage I walked away from the home in 2009 and filed for bankruptcy in 2010 which I surrendered my house . Since then this house has changed hands 4 times between different collection / mortgage companies it is now 7 years since the house was vacated and the house has never been brought to auction , now a new company has aquirred my loan and wants to know what my plans with this house, my first question is ssince I declared bankruptcy should I even be talking with them 2nd question is should I do a deed in liue which I requested, or should I do nothing , my fear is they will never put this house up for auction . Any advice will help Im confused by this since I think the bank would want to settle this issue
thanks
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First, mortgage is a secured line of credit and so, that doesnt get discharged under any Chapter of bankruptcy. So, you will have to deal with the new company.
Second, deed in lieu is a suitable option to get the home off your back. So, go ahead with it, but make sure you consult an attorney before that.