Our BK7 was discharged a couple of months ago in Florida. We are giving up the house. We received our foreclosure suit complaint 2 weeks ago. Countrywide did get a relief from stay a while back. In the suit, there are 3 counts. 1) Action on promissary note for the full note amount and interest 2) Action to foreclose mortgage 3) Reestablishment of note (they lost the original signed document). Now, can they take action on (1) above. I thought relief from stay just allowed them to foreclose, not collect on the debt. Maybe that is just part of the process. I don't really want to pay more attorney fees on a small chance that there is an issue. It seems like some issues could also be raised on count 3 as well - losing the original signed doc. Any advise would be appreciated. Thanks.
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The lender has to go through these steps to foreclose. You shouldn't have to do anything about whatever it is they do. You don't even have to attend any hearings that you receive notice of. I do not believe you'll face any issues and you shouldn't have any additional fees. Just keep the documents in a safe place. Also, if you hired an attorney to handle your case, keep him/her in the loop about whatever you receive and your attorney will better explain what everything means and inform you what actions you need to take.Bankruptcy History:
Chapter 7 filed - 10/12/2005 - Asset
Discharged - 02/16/2006
Case Closed - 11/08/2007
A banker is a fellow who lends you his umbrella when the sun is shining and wants it back the minute it begins to rain ~ Mark Twain
All suggestions are based on personal experience and research and SHOULD NOT be construed as legal advice as I am NOT an attorney. Always consult with competent counsel in your area with regards to your particular situation. -
I am in a similar situation so I'll just add to this thread.
Filed Chapter 7 in Feb'08. Included 2 homes. Did not reaffirm all loans. Both houses had mortgages from CW.
CW file a "Release from Stay" on one of the homes in May'08.
Got discharge in Sept'08. CountryWide has one of the homes listed as a bankruptcy and another in foreclosure state.
The home that is in a foreclosure state is the one they filed a "Release from stay" on. The other is in Bankruptcy. The weird part is that the foreclosed home has 2 loans (Regular and HELOC) and the HELOC is in bankruptcy but the 1st is in foreclose status.
I am trying to clear up my credit as fast a possible and CW won't foreclose on the home or put it in bankruptcy. When I call, they say just transfer me between the bankruptcy and foreclosure departments. When I finally reach a manager, they tell me to call my lawyer.
My lawyer tells me that even though I was discharged, they still have to go thru the normal foreclosure process. This doesn't explain why the HELOC was discharged already and the 1st mortgage is not. I have no idea what to do.
Has anyone been thru something like this? What are my options? Wait? Write a letter?
Thanks for any kind of input.Comment
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