Question on foreclosure and

[alley]

I've been reading in the forum.. I filed Bk in 6/03 and it has long since been
discharged. I went back through my papers.

I only signed a paper "Debtors statement of intention"

Property to be retained...Debt will be reaffirmed. But I never signed anything
with the mortgage Co. nor did they send me anything. So don't think
that paper reaffirmed anything...just intention.

I've been making the payments now for good 3 years. I have now run
into a problem and won't be able to make the payments. I think I will
try to sell. But if unable to do so they will probably foreclose.
I also had a loan with Washington Mutal who just sold my loan to
Wells Fargo.
So wonder if they foreclose can they come after me if sold for less then
loan is or am I free of the mortgage?? AND just walk.

Thanks in advance
Alley

[SinkingFast]

If you did not sign a Reaffirmation Agreement that was properly filed with the Court then you can walk, free and clear.

You need to check to be sure about the Reaffirmation Agreement tho.

You can go to the Court House where you filed BK or call the Clerk of the Court and ask if the Reaffirmation Agreement was filed with the Court.

You might check on PACER.

http://pacer.psc.uscourts.gov/

You'll have to Register. PACER will assign you a User ID and Password. Then you can look up your BK Filing online.

The down side,.............. There's always a downside,.............. Your BK and the Foreclosure will be seen as 2 seperate incidents by prospective Creditors in the future. When BK and Foreclosure occur together, generally the 2 are viewed as one incident. With so much time between the 2, it will be 2 seperate negatives on your Credit.

What State?? We can help give you an idea of what to expect. How long you may be able to live in the home before you have to move.

[alley]

Thanks for the info.... I live in Nebraska.

I'm not really worried about credit report... I live on Social Security
Wouldn't have a Credit card for all the Tea in China.

Would like an idea of how long before having to move..I know Ne is Judical
type.

Alley

[SinkingFast]

I looked at several websites. They all pretty much said the same type of thing. This website explained the Foreclosure process in Nebraska in plain English about the best.

http://www.realtytrac.com/foreclosur...State=Nebraska

Which type of Foreclosure you're gonna go thru will depend on the type of note you have. You might pull out your mortgage instrument and read thru it to know what to anticipate.