Posted on: 02nd Feb, 2010 06:36 pm
Here is the story hopefully somebody can help out on this.
Couple filed chapter 7 back 2005 house was in bk but they wanted to keep it the loan was with jp Morgan after a few years not sure when the loan was sold to chase. Couple has been paying payment on time last 5 years went into local chase to make payment and they claim they no longer own the house and the bank is going to foreclosure it. Even though they have made payments over the years and has never been late...
Any thoughts on this???
Couple filed chapter 7 back 2005 house was in bk but they wanted to keep it the loan was with jp Morgan after a few years not sure when the loan was sold to chase. Couple has been paying payment on time last 5 years went into local chase to make payment and they claim they no longer own the house and the bank is going to foreclosure it. Even though they have made payments over the years and has never been late...
Any thoughts on this???
Hi Pngdept,
Did the couple reaffirm the mortgage while in bankruptcy? If they did, then the mortgage lender cannot foreclose the house as long as payments are being made. But, even if the mortgage was not reaffirmed, I don't think the lender can foreclose the property until you default on the loan. If you have been making payments on time for the last 5 years, I'm not sure why the lender would want to foreclose. Have you talked to the lender regarding this?
Did the couple reaffirm the mortgage while in bankruptcy? If they did, then the mortgage lender cannot foreclose the house as long as payments are being made. But, even if the mortgage was not reaffirmed, I don't think the lender can foreclose the property until you default on the loan. If you have been making payments on time for the last 5 years, I'm not sure why the lender would want to foreclose. Have you talked to the lender regarding this?
JP morgan and chase are one in the same. the couple can ask the lender to "provide the proof" of ownership of their deed, another get theire bank to make copies of the checks they sent the last 5 yrs to the bank. this is more than enough proof for any court.