Turn off your utilities when surrendering house!

[Help!]

A little advice for the newbies... don't just include your utility bills in bankruptcy. Call and have the utilities disconnected as soon as you move out or you'll accumulate new charges. You *will* be responsible for them. Even if it's obvious you moved out of the house because you've moved to another state and your petition states that you're surrendering the house, make the calls so you don't wind up in my situation! It just SUCKS to finally have a few hundred dollars in savings and have to hand it over to some greedy energy company. GRRRRRRR!

[BROKENN]

Ewwwww... thanks!!
Did you just take the keys to the bank?

[Help!]

No, the lender is continuing with a judicial foreclosure (filing suit, etc.) even though we've offered to sign over the deed to them. Makes no sense!

[BROKENN]

No it doesn't...? I bet you have a thread on this eh?

If not, is your BK done? Wouldn't it end any liability? I am having trouble understanding the foreclosure data as it changes by what you decide to do... and it sounds like it depends on state/mtg co etc.. also.

The only real thing I have learned on the foreclosure is you can stay a long time. I don't plan to so I hope there isn't something that can happen that would force me to stick around. Is there?

[Help!]

I think I posted one thread on this topic in the foreclosure forum. One point our lawyer didn't make clear to us is that surrendering a house in BK isn't like turning in a car. In nearly every case, the lender files a suit against you to give them a foreclosure judgment which allows them to "repossess" your house (even if you desperately *want* to give it back to them!). Some states allow non-judicial foreclosure, but then you have to work with the lender to have them accept a deed-in-lieu. I thought they'd be thrilled to avoid all of the legal fees, but they're acting as if they're the ones doing me the big favor.

It doesn't matter to me how they go about repossessing the house as we have protected ourselves from any deficiency by including both mortgages in our BK (which is now discharged), but I'd prefer that they take the house right away so it's not an eyesore for the next 12 months.

I think a lot of BK attorneys don't understand what happens when a house is surrendered in BK because it wasn't something that happened very often until now. Before the housing market tanked, people wanted to hang on to their houses. Now BK is being used as a tool to get out from under them.

I'm just learning about foreclosure myself, but I try to post anything I wish I would have known when I filed in case it makes life easier for someone else in the same boat.

[BROKENN]

I will go read those threads and I appreciate you posting them because I am completely confused! I do want to give it back the same way you do! We have a planned moving date so I am completely interested.

I was thinking the same, don't you want to fore go the expenses? Not always is seems!

I am glad that you are protected I got worried. I think I could drive away and be OK with leaving it empty but I don't want any legalities following me. Any tips for avoiding that?

Thanks for the Help!

[RK05]

From what I understand the banks still goes through the foreclosure route because that allows them the write off of all the expensies. Even though they can't collect the money from you because of the BK. If they take the house thats is less money they can write off.

[BassBoy]

I think I could drive away and be OK with leaving it empty but I don't want any legalities following me. Any tips for avoiding that?

Thanks for the Help!

There usually aren't any legalities to follow you around because you still need to keep the insurance up to date, if the lender doesn't do that ahead of time. Lock-up the house and ask that a neighbor or friend nearby keep an eye on the place until the title has changed hands. It could also help if that same neighbor or friend would keep the yard cleaned and trimmed for you as well.

In any case, foreclosed homes usually just sit empty and no one really bothers them much. On the other hand, in some areas, it's been publicized that these homes are being gutted by looters for the cooper and what not. As long as that type of activity does not happen in your neighborhood, you really shouldn't have much to worry about.

[BROKENN]

There usually aren't any legalities to follow you around because you still need to keep the insurance up to date, if the lender doesn't do that ahead of time. Lock-up the house and ask that a neighbor or friend nearby keep an eye on the place until the title has changed hands. It could also help if that same neighbor or friend would keep the yard cleaned and trimmed for you as well.

On keeping property insurance, I have seen that go back and forth on this forum. I'm just more confused legally. And personally, I don't see paying my monthly bill on something I can't have.
So I would really like to know legally.

In any case, foreclosed homes usually just sit empty and no one really bothers them much. On the other hand, in some areas, it's been publicized that these homes are being gutted by looters for the cooper and what not. As long as that type of activity does not happen in your neighborhood, you really shouldn't have much to worry about.

I can have family drive by I guess.... we live in a rural area, property has gates and I think some of the neighbors have guns.

Thanks for the input!

[b_girl]

Thanks for the info, Help. It's been a month since we moved into our 2nd home, and we do plan on shutting off all utilities when we totally abandon the 1st house...so far we've only shut off the cable and the internet. We've also kept the insurance, as we're still in the process of moving things out. Unfortunately, our neighbor reports that there are people snooping about our property, and not the buying kind. We're hoping for a quick foreclosure process (possibly deed in lieu), but our lawyer did tell us we could hand in the keys and discontinue insurance whenever we are ready, as the bank will secure and insure the property at that time.

[BROKENN]

I just got my notice today saying the mtg co insured my house themselves, so one problem down. It is automatically included in the BK since the mtg co was lsited though the amount may be different now? How does that work?
Thanks

[TEW]

There usually aren't any legalities to follow you around because you still need to keep the insurance up to date, if the lender doesn't do that ahead of time. Lock-up the house and ask that a neighbor or friend nearby keep an eye on the place until the title has changed hands. It could also help if that same neighbor or friend would keep the yard cleaned and trimmed for you as well.

In any case, foreclosed homes usually just sit empty and no one really bothers them much. On the other hand, in some areas, it's been publicized that these homes are being gutted by looters for the cooper and what not. As long as that type of activity does not happen in your neighborhood, you really shouldn't have much to worry about.

My lawyer has told me to stay in the house until the deed is no longer in my name. You can and will be held responsible if the property incurs any fines or problems with the HOA police or township. She also told me she has clients that are being fined because the house was broken into and set on fire and the township wants it torn down. They are being fine per day for none compliance.
Although I want to get out of here I am going to stay as long as I can rent free.

[b_girl]

My lawyer has told me to stay in the house until the deed is no longer in my name. You can and will be held responsible if the property incurs any fines or problems with the HOA police or township. She also told me she has clients that are being fined because the house was broken into and set on fire and the township wants it torn down. They are being fine per day for none compliance.
Although I want to get out of here I am going to stay as long as I can rent free.

Must be different laws in different areas..that's what makes this issue confusing to many of us. Since my lawyer has already advised us on a course of action, I'm comfortable pursuing it. Guess that's why it always good to check with your attorney before doing something so important.

[BROKENN]

Must be different laws in different areas..that's what makes this issue confusing to many of us. Since my lawyer has already advised us on a course of action, I'm comfortable pursuing it. Guess that's why it always good to check with your attorney before doing something so important.

This makes sense to me. My lawyer told me to call, write a letter and drop the keys on my way out.

I guess I need to ask him out right about any consequences, such as people have stated here. **sigh** So much to learn!

[TEW]

This makes sense to me. My lawyer told me to call, write a letter and drop the keys on my way out.

I guess I need to ask him out right about any consequences, such as people have stated here. **sigh** So much to learn!