Colli Real Estate

Foreclosure after bankruptcy?

My husband and I went bankrupt several BOF (5) years, and our house is included in the bankruptcy but continue to make payments to stay at home. Due to the shitty economy and the loss of income (the economy stupid) and we can not stay in home and continue the payments. We have received pre-foreclosure "that counts, but said the substance if you are in bankruptcy, is for informational purposes only. Each After talking with the bank they know they are not responsible for the mortgage. What does that mean and what happens if we go to foreclosure? I mean, our credit and bankruptcy leg … We live in MT. We also have not signed a reaffirmation …

It sounds as if you do not file a reaffirmation agreement bankruptcy court where the bankruptcy has been filed. This means your personal liability for mortgage debt has been discharged from bankruptcy. However, the owner of the mortgage is free to exclude from the house at any time if you are behind on their payments. It seems that's what they do. The statement about being "for informational purposes only "if you are in bankruptcy do not apply to you (which is not currently active bankruptcy case). Creditors put there in the hope that if they send that advice to someone who is bankrupt, it will not affect the automatic stay imposed by bankruptcy, creditors, which bars efforts to collect a debt while the debtor is in bankruptcy. In fact, many courts have held that this exclusion of liability does not get away with violating the short stay If the beneficiary is in bankruptcy. But, as mentioned, this does not apply to your situation, since it is not currently in bankruptcy. If you're late on your mortgage payments, the mortgagee can not exclude the house. You have to move.

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