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BK-7 Discharged & SS

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    #1

    BK-7 Discharged & SS

    I have a client that has been discharged through BK-7, but 1st mortgage and HELOC were not reaffirmed. His lender (Chase Bank) is foreclosing.

    Question: Is it still possible to do a short sale to buy the property? Is there anything different or unique about doing such a short sale? Anything I should "look out" for?

    Thanks!
    Tags: None
    #2
    Why are they foreclosing? Did he keep paying all the payments or did he stop or miss one?
    Filed Ch 7 -- July 9, 2008
    341 mtg ---- August 14, 2008
    Discharged ---- October 17, 2008
    Closed --------- December 11, 2009!

    Comment

      #3
      Before BK, he was layed off and got behind. After BK-7 discharge, he paid-up arrears, but the lender then added attorney fees and that busted him. He then quit paying, so lender is foreclosing. The lender has been unwilling to do loan mod or workout (he tried on his own and I've tried for him), but they want min $2K upfront, which he doesn't have (right now). Forbearance is out of the question.

      So, he either walks or we do a SS.

      Comment

        #4
        Not sure what an SS is, but in my opinion let them choke on another empty house. 2K can move to another new appartment and "F" them. 'Hub
        If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.

        Comment

          #5
          SS = Short Sale ?
          Filed C7 Aug 31 2008
          341 Oct 8 2008
          Discharged Dec 9 2008

          Comment

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