Posted on: 13th Jul, 2011 01:54 pm
my husband and i filed chapter 7 and all debts were discharged in 2009. we elected to "surrender" our primary home in the chapter 7 paperwork and is no longer obligated to pay the mortgage.
a few months later we learned that the house did not go into foreclosure and was still in our name and tried to work with bank of america on a home loan modification. now it is 2 years later, the bank is giving us the run around (long story) and we decided to move on and let the house go. the house is now vacant. no payments have been made since the bankruptcy and no paperwork was signed to reinstate the loan.
we want to get the deed out of our name as soon as possible because it's becoming a burden for the deed to stay in our name. bank of america pays the real estate taxes on the property but the city garnishes our check when the grass is not cut...and the other week, the police had to evict 2 men living in our vacant house.
i thought about contacting bank of america to see if we could simply sign paperwork to get the home out of our name, since we are not obligated to pay the loan anymore (because we filed chapter 7). however working with the bank if so frustrating, and they are so overwhelmed they cannot give our situation the attention it deserves. i read on the bank’s website that before they will send you deed paperwork, we would have to put house up for sale for several months, which we are not willing to do at this point…this situation has dragged on too long and we just want to move on with our lives.
i was thinking about filing a notarized quit claim deed at the courthouse to convey the property back to bank of america. again we are not obligated to pay the loan. we just need to get the deed out of our name.
please advise of any issues you see with this.
a few months later we learned that the house did not go into foreclosure and was still in our name and tried to work with bank of america on a home loan modification. now it is 2 years later, the bank is giving us the run around (long story) and we decided to move on and let the house go. the house is now vacant. no payments have been made since the bankruptcy and no paperwork was signed to reinstate the loan.
we want to get the deed out of our name as soon as possible because it's becoming a burden for the deed to stay in our name. bank of america pays the real estate taxes on the property but the city garnishes our check when the grass is not cut...and the other week, the police had to evict 2 men living in our vacant house.
i thought about contacting bank of america to see if we could simply sign paperwork to get the home out of our name, since we are not obligated to pay the loan anymore (because we filed chapter 7). however working with the bank if so frustrating, and they are so overwhelmed they cannot give our situation the attention it deserves. i read on the bank’s website that before they will send you deed paperwork, we would have to put house up for sale for several months, which we are not willing to do at this point…this situation has dragged on too long and we just want to move on with our lives.
i was thinking about filing a notarized quit claim deed at the courthouse to convey the property back to bank of america. again we are not obligated to pay the loan. we just need to get the deed out of our name.
please advise of any issues you see with this.
You would not be able to quitclaim the title back to the bank. You should contact BOFA and file the paperwork to do a "deed in lieu" bank takes back the property in lieu of foreclosure. Good luck!