Posted on: 07th Jan, 2011 10:20 pm
my wife & i filed for chap 7 seperately 3yrs ago & listed our home on both of our bankruptcies.all of our debt was discharged including the home mtge on each bankruptcy. i have since changed my mind and would now like to keep my home since its been 3yrs since ive made a mtge pymt & the bank still hasnt taken it from us. is it possible to keep this house & try to work something out with the bank or should we just move on?
Hi smooth,
As your bankruptcy filing has been discharged 3 years back, it will be difficult for you to keep the home. As you're making the payments on time, the lender has not foreclosed the property. The moment you stop paying the dues, the lender will start foreclosure proceedings.
Thanks
As your bankruptcy filing has been discharged 3 years back, it will be difficult for you to keep the home. As you're making the payments on time, the lender has not foreclosed the property. The moment you stop paying the dues, the lender will start foreclosure proceedings.
Thanks
Hey james thanx 4 your reply but u misunderstood my ? I havent made a mtge pymt in 3 yrs & in the interim filed chap 7 & had the mtge loan along with all my other debts discharged in jan.2010. The bank started the foreclosure process back in feb. 2008 and have still not taken the home or given me a date to do so, i have since saved a substantial amt of $ since i have no debt now and want to know if its possible to work something out with the lender and possibly keep my home or is it to far gone & just use the $ ive saved & move on to something else..thnx
Hi smooth!
Welcome to forums!
Did you include the property and the mortgage in your bankruptcy filing? If you included the mortgage and reaffirmed it, then you will be able to save the home provided you keep on making the mortgage payments on time.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Did you include the property and the mortgage in your bankruptcy filing? If you included the mortgage and reaffirmed it, then you will be able to save the home provided you keep on making the mortgage payments on time.
Feel free to ask if you've further queries.
Sussane
Hi susanne,yes i did include it & no i didnt reaffirm it and also no pymts have been made since april 2008..may i still be able to work something out since they still havent given me an eviction or sale date?
Welcome back smooth,
As you haven't reaffirmed the mortgage, you are not liable for paying off the dues personally. The lender won't be ready to work out a hardship plan for you as you haven't reaffirmed the loan.
As you haven't reaffirmed the mortgage, you are not liable for paying off the dues personally. The lender won't be ready to work out a hardship plan for you as you haven't reaffirmed the loan.