Posted on: 05th Feb, 2011 01:42 pm
In 2004 we had to file chapter 7 bk. We have a 1st mortgage with Chase and had a 2nd with HOMEQ. We continued to make payment on both 1st and 2nd. About 2 years ago HOMEQ sent us a letter stating they had transferred our loan to Resurgents Capital. Since this has happened we have not received any monthly statements proof of payments. After pulling credit report it shows loan has been transferred paid as agreed. My question is are we still responsible t make this payment or is it charged off and covered under bk. With housing market we probably would not get enough out of house to pay off 1st mortgage so home is no longer worth balance on 2nd. When i asked for a statement they told me they could not send one b/c of bk and I would have to sign letter they sent me to receive any information. I'm not signing anything b/c I think this is already closed according to original loan. Should we continue to pay 2nd or is it discharged from b/k. State of home is GA.
welcome gacrystal,
if you filed chapter 7 bankruptcy and did not reaffirm the second loan, then you're not personally liable for the mortgage payments as the bankruptcy has been discharged.
if you filed chapter 7 bankruptcy and did not reaffirm the second loan, then you're not personally liable for the mortgage payments as the bankruptcy has been discharged.
If I don't pay can they forclose on our home. Credit report shows transferred and 0 balance, but no reporting of payments by Resurgents capital or them listed on credit report.
welcome gacrystal,
if the mortgage has been discharged in your bankruptcy filing, then you won't be liable to pay it off to the lender anymore. however, the lender may foreclose the property in order to recover his dues. but before the second mortgage lender satisfies his own dues, he will be liable for paying off the first mortgage lender in full.
if the mortgage has been discharged in your bankruptcy filing, then you won't be liable to pay it off to the lender anymore. however, the lender may foreclose the property in order to recover his dues. but before the second mortgage lender satisfies his own dues, he will be liable for paying off the first mortgage lender in full.