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

Welcome to the Bankruptcy Forum. Bankruptcy (BK) Forum is known as 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: (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 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

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 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

Shadow inventory / Zombie deeds - banks refuse to take rental properties back

  • Filter
  • Time
  • Show
Clear All
new posts

  • Shadow inventory / Zombie deeds - banks refuse to take rental properties back

    I filed Ch 13 bk in 2008 and was discharged in 2009. I had 6 rental properties with 5 different mortgage companies. All of them were included in the bk. Four of the properties were foreclosed on. Fast forward several years and I start getting sued by my county in TN for back taxes and maintenance on the 2 remaining properties. I start calling the mortgage companies and the final result is that they have written the loans off but will not release the liens unless the mortgage amount is paid off. I even have that in writing. The refuse to foreclose or take the properties back even with a deed in lieu. My lawyer at the time said we did not have enough to go after them for trying to collect on a forgiven debt.

    I checked with several more attorneys and I am obligated for the amounts owed on these two houses. Instead of just attaching the debt to the houses, they are allowed to sue the home owners for the back amounts. These judgments are going onto my credit, I have to do something.

    The total amount is around 10k. It would take that to fix one of the houses to be liveable. I am not interested in getting back into hood rentals. I have tried selling and giving the properties away. Potential buyers are scared away because of the liens. I can understand that. The likelihood of the mortgage company coming back after the houses have been fixed up is very small, in my opinion.

    I have them listed on Craigslist right now to see if anyone will bite.

    My limited options right now are to fix them up and rent them. Umm, I'm gonna veto that option.

    Sell them, but I really don't think anyone will buy.

    Get them out of my name. Bingo. But how?

    I have an old LLC and an old INC I thought about just quit claiming them into one of them. My wife and non-lawyer friends think this is a bad idea and might be seen as some sort of fraud. Also, I am listed as owner of each so they would be traceable back to me. They were each closed down properly through the IRS so I am a little leery of this route too.

    Through my research, I found that I can open an LLC in New Mexico that can be completely anonymous. It's also cheaper there and they have no requirements for state taxes or a yearly report. I am guessing around $600. I can open it, quit claim the properties to the new LLC and then just let the LLC die after a year.

    I am looking for input on my thoughts and also suggestions for other ideas I may not have thought about.


  • #2
    'Hub just purchased his ex-wife's property through a quit-claim because Springleaf Financial, formerly known as American General Finance has been harassing her evenCH7 BK, and she was called just this year alone THREE times for a case management review on this case. Each time, the junk debt buyer had gone and changed law firms. The judge got so aggravated, not only with her case, but others in the room, about the sloppiness of everyone's attorney, that she scolded everyone and dismissed the case against the ex Ms 'Hub--because the Plaintiff's counsel failed to show.

    The law firm of record must now start over again--and now that 'Hub has gotten the ex's name off the property--they REALLY have to start over again. 'Hub likes to 'pull bullies' chains'. Springleaf Financial, formerly known as American General Finance, IS a bully. We saw it at our own 341 meeting. But that is another story.
    "To go bravely forward is to invite a miracle."

    "Worry is the darkroom where negatives are formed."


    • #3
      I realized I did not answer your question. The former Ms 'Hub vacated her property in July 2012. and sent the keys back to the agency She filed BK CH7 in September 2012; was discharged December 12, 2012, yet was terrorized in her apartment after dark by someone pounding on her door wanting her to open up and sign papers. That was before she was discharged.

      'Hub filed papers for Adverse Possession against this property to get Springleaf/American General's attention. He never acted on it, but he was trying to get someone's attention.
      Last edited by AngelinaCat; 08-09-2015, 07:28 PM.
      "To go bravely forward is to invite a miracle."

      "Worry is the darkroom where negatives are formed."


      Unconfigured Ad Widget