Announcement

Collapse

Forum Rules (Everyone Must Read!!!) (updated: 04/28/2015)

Welcome to the Bankruptcy Forum. Bankruptcy (BK) Forum is known as BKForum.com and will be referred to as BKF hereinafter. In order to ensure a long term success of our vibrant community, we have established certain rules and guidelines to which everyone must adhere to. Please take your time to carefully read our rules, before you start to participate in the community.

Things you agree to do:
BKFORUM.com (BKF) users agree to use the search function before starting a new thread. This prevents duplicate discussions and allows for better organized topics.

All BKF users agree to read the sticky posts which may be available at the top of a forum page. These Sticky posts often contain valuable information. They may also outline more rules and guidelines specific for that particular forum, stickies are put in place by that forums moderator(s) or admin(s).

Things you agree not to do:

All BKF users agree not to call people names or write a post simply to make a personal attack, or get a negative reaction; this behavior is not allowed on our forum. The use of derogatory language aimed at anyone will be severely dealt with. There is no need to agree with each other, or to even like each other. However, by signing onto BKForum.com you agree to treat each member and guest with the respect they deserve. No threats or personal attacks will be allowed.

All BKF users agree not to discuss, engage, or encourage any behavior or activity which violates the law. Discussion of drugs, violence, murder, theft, vandalism, fraud or any other issue which could be used to help individuals break the law is strictly forbidden.

All BKF users agree not to "bump" old threads, unless there is a specific benefit to the community by doing so. But in most cases, please don't post in very old threads, instead start new threads.

All BKF users agree not to attempt/use another members account. It is against BKF rules to use any account other than your own. Impersonating another member will result in an immediate ban. It is also against the rules to open more than one account in your own name without permission from a moderator or administrator. If you have been banned for any reason, it is against the rules to open another account. If you were banned temporarily and you are caught using another account you will be banned permanently. Choosing a moniker which is similar in either sound or spelling as a moderator or administrator is strictly forbidden.

All BKF users agree not to private message any moderator, admin, or other member with questions related to their personal circumstances (Questions about the forum or issues with the forum are ok). This forum only works when members share their experience and insights with everyone.

Things you agree not to post:
All BKF users agree not to post any derogatory/racist/or sexist remarks. This includes attachments, links and all information contained within posts, signatures, and avatars, failure to comply with this rule will result in a permanent ban.

All BKF users agree not to post any copyrighted or trademarked information without the express written permission of the owner(s) / proper citation of source.

All BKF users agree not to post any real names, addresses, telephone numbers, email addresses, social security numbers, or any other personal details (their own or other people's).

All BKF users agree not to post links, pictures, attachments, videos, or the like of pornographic content, objectionable material or extreme violence, whether cartoon or real.

All BKF users agree not to use BKF for advertising purposes without a written contract between yourself/company/agent and the administration of BKF. Blatant advertising will result in a ban.

All BKF users agree not to spam the forums. Spam includes but is not limited to posting erroneous, non-relevant-useless, off-topic, or meaningless posts. Spam may also include posts which contain no text, or large areas of blank space between lines. Simply posting emoticons without text is considered spam. BKF is the largest bankruptcy message board and all the content is intended to help other users. Please help us improve the quality of our forum by making sure that your posts are well-worded, spell checked, grammatically correct and syntaxed.

Regarding actions of moderators and administrators:

The forum is no place to air out your opinion or be judgmental of our staff and its capabilities.

All BKF users agree not to abuse or mistreat moderators or administrators. It is against BKF rules to post any information regarding bans or any other action taken by a member of the moderating or administrative team. If you wish to discuss bans or warnings please do so via PM. To place a complaint against a moderator, send a PM to a super moderator. All Moderators are equal, any decision made by a moderator must be adhered to. If a moderator tells you something you do not like, do not go to another moderator looking for a different answer. If you are caught doing this you will be banned. The moderators work as a team and respect the decisions made by their peers and will help enforce them unless an administrator tells them differently.
If you have an issue with how the forum is run, then notify one of our administrator and we will look into the situation. We have in the past and still do appreciate any input that you offer this forum. But critical input and/or judgmental postings towards the staff will result in you getting banned.


Should you find a thread offensive or out of line, then notify a Mod in a PM so they can evaluate the situation and do the action deemed necessary.

All moderators do have active "other" lives outside of the forum and help moderate this forum in their spare time throughout the days and weeks.

If you have a problem with a member or Mod follow the proper channels of reporting it.

BKF reserves the right to delete any posts which contain anti-BKF comments or discussion. Any bashing of moderators or administrators, or any of their discussion or actions will also be deleted, and the responsible posting party(s) will be banned. Any public anti-BKF advertising, communication, or posts on another forum will result in permanent bans as well.

All warnings and bans are decided by individual moderators and administrators. Warnings are preferable to bans however, for serious offenses and repeat abusers bans will go into effect. The length of the bans can vary from several hours to permanent.

All messages posted or sent including through PM are the property of BKforum.com.

All BKF users agree not to advertiser on the forum (Niether by posting, private messaging or using your signature). If you are a company/attorney/legal adviser wishing to advertise on the site or sell a product, you must contact the head administrator and inquire about our advertising packages.

All bankruptcy related opinions expressed on BKForum.com are those of their authors and not necessarily of BKF, its staff or representatives.

You agree not to copy any material/post/content from BKF without written permission from our head administrator .

By posting on this forum you agree to these terms and conditions, including any punishment deemed appropriate by moderators or administrators in the event of an offense.

Administrators/Moderators can change these rules at any time without prior notice.
See more
See less

Advice needed were scared

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Advice needed were scared

    Hi everyone, I know its been awhile but I've been very sick in and out of hospital without much web access.

    To get right to the point we live in Macomb County Michigan filed chapter 7 and were discharged Feburary 2009, we had all debts discharged including the first and second mortages. We never paid the second mortgage (got a few threating letters and then they stopped, never heard from them again), but we continuned pay to the first hoping to stay in our home, but for the last 7 months we have not been able to pay the first anymore and have not paid since. I've been very ill and had to file for Social Security as I'am unable to work (as you probably know that process can takes years before you get your benefits), my wife works but were unable to cover all our bills.

    The first mortgage bank of america has keep sending us statements (thats fine) just showing amount owed and amount past due (7 months). This week we got a 14 day notice in the mail this is a notice of intent to file foreclousure on our home (I think it is, I'm not entirely sure and its very hard to read and understand), also were getting mail from all kinds of people, law firms, and companies saying they can help (I'am sure they all want funds to help us, which we don't have) and theres several ways inwhich these people say they can delay or stop the forclousure.

    My questions are what is our best option now?

    About how long do we have to stay?

    We know we can't afford the $800/month mortgage, home insurance, and taxes , insurance, and taxes (taxes are unpaid for 2011) anymore and will have to move at some point but we would like to stay as long as possible to save as much as we can.

    We are not willing to sign a new mortgage with the bank because its been discharged and we don't want the responsability of a new mortgage on this home anymore and the home is in pretty bad condition (we owe about $127,000) house may be able to get $60,000 or $70,000 I don't really know but nothing is selling in our area and theres alot of homes foreclosed on just sitting empty.

    If anyone can give advise please do any help will do right now. Thank you all so much.
    Filed Chapter 7 10-2008
    341 Meeting 12-2008
    DISCHARGED 2-2009

  • #2
    Can anyone help please?
    We just don't understand this 14 day notice thing and our BK Atty. says they can't help, they handled our BK and they say just move out since all was discharged.

    Please someone help us understand this.
    What happens after the 14 days. (we got a news paper clipping from some law firm saying upcoming foreclousure is posted in a legal newspaper)
    Will our home go to auction now?
    Or does the bank give us a certain amout of days to leave.
    Filed Chapter 7 10-2008
    341 Meeting 12-2008
    DISCHARGED 2-2009

    Comment


    • #3
      In Michigan, you have 6 months after sheriff auction for redemption. After the 6 months you must be out. Look up michigan foreclosure laws. You have a bit of time.
      8-07-09-filed Chapter 7
      11-18-09-DISCHARGED!!

      Life is not what challenges you face, but how you face those challenges.

      Comment


      • #4
        Do properties always go to sheriff sale?

        Theres 3 homes on my block alone (all were foreclosed on) that are empty. Doesn't the bank foreclose and kick you out then or is a sheriff sale necssary?

        So if I'm understanding you if theres a sheriff sale and the home is sold to a bidder or if the bank just forecloses, we will have an additional 6 months to redeem or get out, is this right?

        Also this 14 day notice, does this mean the forclousre starts after the 14 days if we dont come to a agreement with the bank (which we wont)?

        Thank you very much for your response.
        Last edited by subking; 01-30-2012, 07:24 PM.
        Filed Chapter 7 10-2008
        341 Meeting 12-2008
        DISCHARGED 2-2009

        Comment


        • #5
          Please do yourself a favor and google michigan foreclosure laws. I am reponding on my phone and oam umable to type the details. You have 6 months after sheriff sale to move or redeem. The bank can not make you leave earlier.
          The 14 day notice is just the bank threatening foreclosure. You have time.
          8-07-09-filed Chapter 7
          11-18-09-DISCHARGED!!

          Life is not what challenges you face, but how you face those challenges.

          Comment


          • #6
            Thank you so much for your replies and yes I am searching Michigan foreclosure now.
            Filed Chapter 7 10-2008
            341 Meeting 12-2008
            DISCHARGED 2-2009

            Comment


            • #7
              Once a sheriff deed is issued, it must be recorded at the county courthouse within 20 days. You could then see the deed (assuming your county has them searchable via the internet). This document will give you the final date for redemption.

              If you do not plan to redeem your home, I suggest staying and saving as long as you can. Knowing 6 months ahead of time when you need to be out will be helpful.
              I wish you all the best. I am currently waiting on a sheriff sale in Livingston county, and it was originally scheduled for late November. So far, the sheriff sale has not happened. There are just so many foreclosures, they take a while. Just keep a eye on your county's website.
              8-07-09-filed Chapter 7
              11-18-09-DISCHARGED!!

              Life is not what challenges you face, but how you face those challenges.

              Comment


              • #8
                http://www.macombcountymi.gov/clerks...DeedsIndex.htm

                Here is the link to Macomb county's register of deeds office. From there you can find what you need.
                8-07-09-filed Chapter 7
                11-18-09-DISCHARGED!!

                Life is not what challenges you face, but how you face those challenges.

                Comment


                • #9
                  Thanks so much again for the helpful information, it puts us a ease alittle bit and you answered alot of my questions.
                  Filed Chapter 7 10-2008
                  341 Meeting 12-2008
                  DISCHARGED 2-2009

                  Comment


                  • #10
                    some states are both Judaical and non-Judaical, however in the case of michignan they are both. judical means the lender must go via the court system so it takes longer...while if your lender decides to you the non-judical method of foreclosure, the process can go gather quickly.

                    michigan foreclosure laws are:


                    According to Michigan foreclosure laws, the state uses two forms of foreclosures, namely the judicial and the non-judicial procedures. Non judicial foreclosure is also referred to as foreclosure by advertisement. The duration of such foreclosure is around sixty-days.

                    Michigan State's Judicial Foreclosure

                    In Michigan the lender can foreclose the mortgage by filing the law suit in the Michigan circuit court. The court orders to sell the property six months after the primary filing of the proceedings. The circuit court commissioner is solely responsible for the sale of the foreclosure homes.

                    Michigan State's Non - Judicial Foreclosure

                    The foreclosed property can be sold under the commercial basis otherwise known as non-judicial foreclosure or through advertising. This situation occurs when the mortgage is not held by the Michigan state housing development authority. If the installments are not paid the mortgage act validates the foreclosure.

                    The notice of the sale of the foreclosure properties should be published in the local newspaper for four weeks, in the prescribed manner which is generally once a week for a few weeks and then fifteen before the sale. Apart from this the notice should be posted in the area where the sale of the foreclosure properties is going to be held.

                    The sale of the foreclosed homes is held in the courthouse where the claim is filed. The foreclosure auction is conducted by a sheriff or a deputy sheriff. The highest bidder acquires the foreclosed property. The sale can also be postponed from time to time by notification in the newspaper. The only condition is the auction should be adjourned that within 10 days from the date of the sale.

                    The proceedings for the sale of this foreclosure property are carried out by the officer or person conducting the sale. The title of the property goes to the highest bidder at the foreclosure sale. The last date for the sale should be specified so as the borrower can redeem the foreclosure home if possible. The legal documents should be officially recorded within 20 days after the sale.
                    Recovery of the foreclosed properties according to Michigan foreclosure laws

                    - The borrower can get back his three to four units of the abandoned foreclosed property, for a period of one year from the date of the foreclosure sale.
                    - And if the property is deserted, in case the balance is over two-thirds of the original mortgage then the recovery period is reduced to one month.
                    - If the balance is two-thirds or less of the original loan, you can make use of one year.
                    -If the foreclosed property is four units or less and is less than three acres in size, then two different redemptions time period is concerned.
                    -The rules vary for mortgages that began after 1965. If the amount that remains unpaid on the loan is more than two-thirds of the original debit, then the borrower is given six months to redeem.
                    - If the unpaid balance on a mortgage is less than two-thirds of the original debt, the borrower is given only three months to redeem the property if it has been abandoned.
                    - If the borrower fails to respond to the notices, then the sale of the foreclosure properties can be rejected after the personal assessment resulting in negative responses.
                    8/4/2008 MAKE SURE AND VISIT Tobee's Blogs! http://www.bkforum.com/blog.php?32727-tobee43 and all are welcome to bk forum's Florida State Questions and Answers on BK http://www.bkforum.com/group.php?groupid=9

                    Comment


                    • #11
                      Hi I am in Macomb County Michigan and currently in my redemption period. You need to call the place on the link below ASAP to get some help. They will file an extension letter on your behalf before the 14 days is up in order to give you 90 extra days to try to negotiate with the lender, if you want out of the home then this still gives you more time. They will do this for free and will also have you come to a seminar in order to understand more what is happening and your options. If you can't go to the seminar have someone in your household go it is located by the jail in Clinton Township off of Groesbeck. After the 90 days your home will be put into a legal paper for 4 weeks and then go to sheriff sale, you then have 6 months to live rent free or try to redeem your home. The hardest part for us is trying to find a rental home that will take 2 dogs and has a 2 car garage but if you do not have those issues it is pretty easy to find one. Good luck!

                      http://www.macombcountymi.gov/msuext...nformation.htm

                      Comment


                      • #12
                        Thanks for everyones advice. I'm gonna atempt to take some steps and make some calls, maybe I can get the 90 day extension as well mentioned above.
                        Filed Chapter 7 10-2008
                        341 Meeting 12-2008
                        DISCHARGED 2-2009

                        Comment


                        • #13
                          adviceplease, I want to say thank you for the advice and the link. I have made the right call and had the extension letter sent on our behalf, I also will be attending the seminar and particapating in any help I recieve to help us with this process. I'm so glad I didn't call one of the attys, debt relief places, or realtors that have been sending us mail, some of them seem to want to help, but it really comes down to paying them a fee and who knows if they can do anything for us other then take our funds.

                          For the first time I feel like we have a chance with this and I'm sure were going to get the right advice according to our situation.
                          Filed Chapter 7 10-2008
                          341 Meeting 12-2008
                          DISCHARGED 2-2009

                          Comment


                          • #14
                            You are very welcome, I am glad that they are able to help you. The threat letter from our lenders lawyer actually came with their information so I called them and they were able to get us the extension to stay in the home longer. I wanted to save our home but the lender just did not want to work with us because we had PMI so they can have the house. I thought the seminar was very informative.

                            Comment


                            • #15
                              Since both our 1st and 2nd were included in our chapter 7 if BOA does forclose does a forclousure show up on our credit report even though the debt was already discharged?
                              Filed Chapter 7 10-2008
                              341 Meeting 12-2008
                              DISCHARGED 2-2009

                              Comment

                              Unconfigured Ad Widget

                              Collapse
                              Working...
                              X