Posted on: 28th Apr, 2008 09:48 pm
If the mortgage is discharged in ch7, do they still send you the bill? We filed bankruptcy and the trustee have discharged all debts . We were told the home is ours and will not be taken away. But the lender is now demanding $30,000 in mortge dues. He said if we don't pay it he'll file default notice. I'm confused please help
Hi Nelson,
Welcome to the forum.
If you file chapter 7 then all your unsecured debts will be forgiven but the mortgage is a secured debt backed by the property. So I do not think the home loan is discharged. I think you need to pay the due amount in your mortgage. But they cannot harass you for that.
I think you should consult with a BK attorney for this.
Feel free to ask if you have any further questions.
Best of luck,
Larry
Welcome to the forum.
If you file chapter 7 then all your unsecured debts will be forgiven but the mortgage is a secured debt backed by the property. So I do not think the home loan is discharged. I think you need to pay the due amount in your mortgage. But they cannot harass you for that.
I think you should consult with a BK attorney for this.
Feel free to ask if you have any further questions.
Best of luck,
Larry
Hi,
Larry is right, BK CH 7 only discharges Unsecured debt, the mortgage company will not call you until Ch 07 is active. The moment Ch 07 is discharged they remind you of the payments and if payments aren't made they will try foreclosing on the property, pls talk to you BK attorney as well as your servicer and get as much details as possible.
Larry is right, BK CH 7 only discharges Unsecured debt, the mortgage company will not call you until Ch 07 is active. The moment Ch 07 is discharged they remind you of the payments and if payments aren't made they will try foreclosing on the property, pls talk to you BK attorney as well as your servicer and get as much details as possible.
So knight you mean even if i have included the mortgage in ch7, it won't be discharged? or is it that the debt is discharged but if i'm willing to pay, i can? this is strange, why then should anyone include a mortgage in bk?