Posted on: 06th Jan, 2011 02:10 am
i had my home quitclaimed to me and i did not refinance the existing mortgage. it is in foreclosure and i'm working on a shortsale. the person who quitclaimed the property filed chapt 7. how will this affect the shortsale- the bank has been communicating with me for the shortsale.
the seller included the mortgage and surrendered the property to the trustee and his bankruptcy is discharged- do i have rights to the property and can they still shortsale to me?
the seller included the mortgage and surrendered the property to the trustee and his bankruptcy is discharged- do i have rights to the property and can they still shortsale to me?
Welcome miss dee,
As your name is not mentioned on the mortgage docs, you're not liable for the mortgage payments personally. The person responsible for the mortgage has filed bankruptcy. In such a situation, the lender may stop any actions regarding the mortgage unless the bankruptcy filing is discharged.
As your name is not mentioned on the mortgage docs, you're not liable for the mortgage payments personally. The person responsible for the mortgage has filed bankruptcy. In such a situation, the lender may stop any actions regarding the mortgage unless the bankruptcy filing is discharged.