Posted on: 27th Mar, 2010 09:57 am
we have filed chapter 7 which was discharged oct 09. the mortgage and home equity loans were not discharged, and we have not reaffirmed these loans. we have been going through the federal government's loan modification process on the 1st. home equity will not work with us on that. (both loans are with the same bank.) we placed our home on the market to sell. we are now in escrow with a closing date of april 13th 2010. our lender is fully aware of the sale, which is not a short sale. the lender's administrator for the 1st has agreed to not begin foreclosure because of the sale. however, the administrator for the home equity loan has begun foreclosure. i know this affects our credit. what i need to know is, am i now liable for additional costs attributal to the foreclosure? is there anything i can do with this lender since they are with the same bank, and the 1st is working with us, yet the 2nd is handling it more aggressively? one more detail, the couple buying the property is using this same bank as their lender.
It is natural for you to seek answers from some place like this forum as you are not getting answers from the bank.
We can not answer your question other than to say anything is possible. Every scenario you mention or ask about is possible. It is up to the bank and no one else can answer for them.
We can not answer your question other than to say anything is possible. Every scenario you mention or ask about is possible. It is up to the bank and no one else can answer for them.