Posted on: 18th May, 2011 02:53 pm
We got two properties (CA and CT) that were upside down and are sitting vacant since jan 2010 and Nov. 2010 respectively. we filed chap 7 in Oct 2010, got the discharge notice Feb 2011 only to find out the CA's HOA are running after us for the Oct-present dues. Called the lenders for both houses and another surprising result-the lenders haven't foreclosed the properties yet and bills are starting to pile up again. Is deed in lieu our best option now? How will this impact our chapter 7 discharge? Our lawyer advised to either to get a renter so we can pay whatever bills that comes up or do a deed in lieu? If we have the properties rented again, we don't have the resources for the maintenance/cleaning up since it's been sitting there empty for about a year now.
Hi partridge!
Welcome to forums!
You can apply for a deed in lieu of foreclosure in case of both the properties. But unless the properties are sold off, you will remain liable for the maintenance of the properties. I will suggest you to contact the lender and ask him to sell off the properties asap.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You can apply for a deed in lieu of foreclosure in case of both the properties. But unless the properties are sold off, you will remain liable for the maintenance of the properties. I will suggest you to contact the lender and ask him to sell off the properties asap.
Feel free to ask if you've further queries.
Sussane