Two Years since BK and Mortage Co has not taken possession of home what shouold we do

[karee]

It has been two years since we have filed BK and had the meeting of the creditors and we surrendered the home and the Mortage Co has not made any effort to take the home, how long do we pay the insurance and why do they take so long?They just send a statement saying this is not a bill for us to continue to pay unless other wise instructed by our trustee. Please any suggestions?

[tobee43]

are you still in the home??

if not, then you have to wait until they foreclose before the deed is released and your name removed. also, if you listed your mortgage in your chapter 7, and it was a no asset, and discharged, then you are no longer financially responsible for anything to do with the house.

we are going through this right now...trying to get the bank to change the deed, however, we are certainly NOT paying insurance. the only thing is if it's an HOA, you must pay the fees.

[jlmaca]

It has been two years since we have filed BK and had the meeting of the creditors and we surrendered the home and the Mortage Co has not made any effort to take the home, how long do we pay the insurance and why do they take so long?They just send a statement saying this is not a bill for us to continue to pay unless other wise instructed by our trustee. Please any suggestions?

Have you tried to sell it by Short Sale? That will get it out of your name.

[tobee43]

how can you sell something that was discharged and surrendered?

[jlmaca]

how can you sell something that was discharged and surrendered?

I am still living in my home that was discharged over a year ago. Since I'm still living in it, I still have control over the property. They have not even started foreclosure proceedings. If you have surrendered the property you have lost that privilege.

[tobee43]

i'm not certain about that....another post...i need to find has someone asking about renting the property they surrendered until they foreclose!! can u believe? but apparently it's "legal" until they remove your name off the deed.

we left our house over 10 months ago, they started foreclosure in nov 2009 and haven't MOVED an inch. we also left the property, and haven't lived there in a very long time. they are maintaining the property, however, at this point, refuse to reassign the deed to them, leaving our names on the deed. so we are telling them to get off the property until the foreclosure is completed as we will no longer be liaible for anything.

as we surrendered the property which is the collateral, they have no recourse.

[drowning123]

Live rent-free! Great way to save some dough! But, alas, you already moved.

[tobee43]

got that right! however, we couldn't make the heating and electric bills...which were 1500...by themselves. so it wasn't worth it. we figured it out. better to get out. but for most people, it's a GREAT way to save and have a nice amount to get a "new" life started... live rent free until they remove you.

[drowning123]

That's what i'm planning to do. My attorney even advised me to do so. I live in NY. Everything's expensive! NY is a judicial state so foreclosure can take 3-5 years.

[tobee43]

drowning...we would have, had we could have...LOL!!! we were in NJ...same with everything being so expensive!

but now that we left we just have to wait after we have been discharged for the lazy bank to foreclose and rip the people of America off for more money for the procedure.
in NJ..there is NO foreclosure fee limits so it could cost the people 50-100k in fees...nice...right?

[drowning123]

I hear ya tobee!

[karee]

It has been two years since we have filed BK and had the meeting of the creditors and we surrendered the home and the Mortage Co has not made any effort to take the home, how long do we pay the insurance and why do they take so long?They just send a statement saying this is not a bill for us to continue to pay unless other wise instructed by our trustee. Please any suggestions?

We are not in the home. The home was listed as a surrender on the filing papers.For some reason we have thought we needed to keep insurance on it and go there to maintain until the mortage co does something.Our BK laywer has since moved and we can not reach him for questions.

[karee]

are you still in the home??

if not, then you have to wait until they foreclose before the deed is released and your name removed. also, if you listed your mortgage in your chapter 7, and it was a no asset, and discharged, then you are no longer financially responsible for anything to do with the house.

we are going through this right now...trying to get the bank to change the deed, however, we are certainly NOT paying insurance. the only thing is if it's an HOA, you must pay the fees.

What is an HOA?Thanks

[tobee43]

karee...if it was discharged with a no asset chapter 7....you are no longer financially responsible...so you are done. don't pay anything...and if you feel uncomfortable call another attorney for advise...it would be worth the money.

[drowning123]

What is an HOA?Thanks

I know this one! It's Home Owner's Association (fee) that you pay to a condo association for the maintenance of your condo (garbage, snow removal and grass). This is paid with your mortgage every month. It's mostly with condos, but there are some townhouse associations and even single family home developments that charge an HOA.