Hello, I filed for bankruptcy chapter 7, was discharged in September this year, I did not reaffirm my mortgage but I have been paying the mortgage every month on time. What I am unsure about is: Can I still claim the interest I am paying in those pmts on my tax returns coming up for 2010? Am I still considered owner to the house? or am I kind of making my mortgage pmts as rent to be able to stay in the house? any info will be great, thanks.
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You are still the owner until such time as the mortgage company decides to foreclose on you and the title transfers to the new owner at the time of foreclosure.
ETA: And as long as you are staying current on the mortgage, they aren't going to foreclose ;)Last edited by free2breathe; 12-13-2010, 01:48 PM.Filed pro se, made it through the 341, discharged, Closed!!!
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Hey Free2breathe (sorry to hijack) - but can they foreclose even if you are current on your monthly payments? I don't plan to reaffirm either - just stay and pay - until the day I die - or until I'm done paying for the house, whichever comes first.Filed Ch. 7 11/8/10: Survived 341 Meeting 12/13/10
Report of No Distribution!! 12/14/10
Received UST Presumption of Abuse!! 12/15/10
UST states Dismissal is Inappropriate! DISHARGED!! 2/22/11
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LOL...sorry cleveland, I was editing as you typed that.Originally posted by clevelandmom View PostFiled pro se, made it through the 341, discharged, Closed!!!Comment
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Yes, so long as you are paying the interest you get the deduction.Originally posted by okane View PostThere are two secrets for success in life:
1.) Never tell everything you know.Comment
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Possible but rare.Originally posted by clevelandmom View PostFiled August 20
341 on September 23 Report of No Distribution - September 24 Case Discharged and Closed on November 23!!!Comment
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As long as you're not in default, they can't foreclose. They have to abide by state law and the terms of your loan agreement. There's been some talk on the forum lately about recent cases of debtors in Florida and Georgia being forced to either reaffirm or surrender their houses, but that is not quite foreclosure either. They had the choice to reaffirm and stay. Plus, that's the 11th circuit.Originally posted by clevelandmom View Post
You're in the 6th circuit and prior to BAPCPA when the circuits were split on who was allowing ride-through and who wasn't, your circuit allowed ride-through. This matters because the circuits are still split (& I think will continue to split along the same fault lines) on the issue of ride-through when it comes to real property (real estate). Not every circuit or state has heard court cases specifically on the issue of real estate, but so far those that have (eta: 1st & 4th in favor; 11th against), have been following along the same lines as before. Ride-through before, ride-through after. This is only true of real estate.
Ride-through on personal property (cars, etc) has been eliminated pretty much everywhere (unless the creditor lets you do it). In terms of real estate, in the circuits that didn't allow ride-through before, it's up to the lender as it always was. In circuits/districts that allow ride-through on real estate, it doesn't matter what the creditor thinks.Last edited by debee; 12-13-2010, 04:13 PM.There are two secrets for success in life:
1.) Never tell everything you know.Comment
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