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Trustees so far denying our conversion

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    Trustees so far denying our conversion

    So here's my saga. I had a rental property and it was foreclosed on
    and I received notice was the sale date was back in May. Well I filed
    for Ch7 BK in Sept.,but now my attorney is attempting to convert us to
    13 so we can keep our primary residence. So the trustee sends his objection
    and states that I am still the owner of the said rental property as apparently
    the company that bought the house signed over a Quitclaim deed to me.I swear
    faithfully I never knew of or received any record of a Quitclaim Deed being sent
    to me. I knew absolutely nothing about this. So yeah I see my name on the county
    website as to being the owner and that the company that had purchased the home
    had indeed issued a Quitclaim deed. But again I knew nothing about this and just
    assumed all along that this house had been foreclosed upon and sold. In fact my
    daughter had a few belongings in there and the entire house was cleaned out to
    include her belongings.

    So now I am completely dismayed and confused. I don't want anything to
    impede or prevent the conversion to Ch.13. How could they do a Quitclaim Deed
    without me knowing it?? I never received anything via mail or otherwise letting
    me know this occurred. Any thoughts?

    #2
    Is there equity in the property? If so and the property is titled to you, stipulate that it will be marketed and sold within 6 months of conversion for the benefit of your unsecured creditors. Do what the 7 Trustee would do.

    Des.

    Comment


      #3
      No there is not any equity in the house. There is a hearing on 12/15 where the atty. for the mortgage
      company is is asking for the stay of relief be listed. I'd just soon they foreclose on it. There is a payoff
      of $208K,tax value of $140K. Most homes in that area sell for $115-150K. When it was foreclosed on
      and sold at auction in May I saw where a real estate broker had it listed for sale at $120K. Now all of a
      sudden I have a Quitclaim Deed to me in Sept.??? I'm just confused,if it was apparently sold in May,
      listed for sale by a broker,the new owners even came in the house and took out what few belongings
      I had in there, and now all of the sudden the house is mine again??? How can they do a Quitclaim Deed
      to me without my knowledge or consent?

      Comment

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