FYI if you sell your house close to discharge of a BK..... [Archive]

JeepMom

08-02-2006, 05:13 AM

Keep your settlement papers.

The CRA's show our mortgage as IIB with $0 Balance. We never missed a payment, never made a late payment. BUT because of the BK process the bank was not allowed to post good(or bad) payments made.

We were discharge on 1/13, we closed on the selling of the house on 1/27. We never made a payment after the BK was done other than paying it off in full. So, the bank never had anything positive to report.

Well, yesterday the broker calls to ask about it.

I told him what happend and he said he figures that was the case but he needs the settlement papers to send the lender.

Luckily I knew where they were so I got them sent in. SO, KEEP YOUR PAPERWORK! Really I had no reason to keep them because I had a letter from the bank saying we were paid in full from the sale.

SinkingFast

08-02-2006, 05:44 AM

That's the one and only reason we went forward with the sale of our house, JM.

We haven't even filed yet. The Lender had gone thru the entire Foreclosure process when we got a last minute offer that allowed us to sell. It cost us nearly $600 to close. The difference between the offer and our pay-off. The pay-off included our principal balance, all late fees, penalties, interest, and legal fees for the Trustee of the Foreclosure.

We'd hoped to salvage something on our Credit for a future home purchase. Then the brokers posting here said future Lenders would see all the lates and the Foreclosure and wouldn't look beyond that. Hopefully someone will notice that the Lender didn't get the property REO.

And we'll have the Settlement papers and Lien Release to prove that we did indeed sell the house ourselves.



	Bankruptcy Forum > After the Discharge > Mortgage after BK > FYI if you sell your house close to discharge of a BK..... PDA FYI if you sell your house close to discharge of a BK..... JeepMom 08-02-2006, 05:13 AM Keep your settlement papers. The CRA's show our mortgage as IIB with $0 Balance. We never missed a payment, never made a late payment. BUT because of the BK process the bank was not allowed to post good(or bad) payments made. We were discharge on 1/13, we closed on the selling of the house on 1/27. We never made a payment after the BK was done other than paying it off in full. So, the bank never had anything positive to report. Well, yesterday the broker calls to ask about it. I told him what happend and he said he figures that was the case but he needs the settlement papers to send the lender. Luckily I knew where they were so I got them sent in. SO, KEEP YOUR PAPERWORK! Really I had no reason to keep them because I had a letter from the bank saying we were paid in full from the sale. SinkingFast 08-02-2006, 05:44 AM That's the one and only reason we went forward with the sale of our house, JM. We haven't even filed yet. The Lender had gone thru the entire Foreclosure process when we got a last minute offer that allowed us to sell. It cost us nearly $600 to close. The difference between the offer and our pay-off. The pay-off included our principal balance, all late fees, penalties, interest, and legal fees for the Trustee of the Foreclosure. We'd hoped to salvage something on our Credit for a future home purchase. Then the brokers posting here said future Lenders would see all the lates and the Foreclosure and wouldn't look beyond that. Hopefully someone will notice that the Lender didn't get the property REO. And we'll have the Settlement papers and Lien Release to prove that we did indeed sell the house ourselves.