Foreclosures after BK

[downwardspiral]

Have I got this right; after the BK is discharged..if you are turning in any properties the normal foreclosure process will commence and you'll get the foreclosure paperwork in the mail....but you won't have to do anything or be responsbile for any deficiency because it was included in the BK??

[catdance23]

I'm curious as well if anyone has an answer to this question.

[Help!]

Yes. We were discharged, the bank is in the process of judicial foreclosure right now. We received the complaint filed with the court seeking a foreclosure judgment. It alarmed us at first because it we saw the words "lawsuit or complaint filed against you" and our bankruptcy discharge was not mentioned in the paperwork. Although the lender can't get a deficiency judgment against you, they still have to get a "foreclosure judgment" the way the would in any other case through the courts. Our lawyer couldn't answer my questions about this part of the process, so we didn't know what to expect.

[TEW]

Thanks help
I was wondering how it was going to work. Did your Mortgage company try to lift the stay when you filed?

[Help!]

Yes, they did get relief from stay. They sent one or two notices after that, but didn't really do much else. We actually got a short sale offer today, which doesn't benefit us at all but we're trying to help connect the bank and the buyer. We put everything we had into our house and it's sad for it to sit empty and deteriorate for a year. They want the house and we want to give it to them, but it still has to go through this long, drawn-out process in court. What a waste of time and legal fees.

[TEW]

We have been here 3 years. It’s a new house we put a ton of money into it plus our sweat. My mortgage CO. has 5 other empty houses here. I am not sure if I want to just get out or squat here and save money.