I received my discharge 01/16/06. I just received letter from mortgage company's lawyer for intent to foreclose. Will my bankruptcy not be officially closed until the house is officially foreclosed upon?
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Filed Chapter 7 Sept. 05 (included house)
Discharged Jan. 06
Foreclosure is pending -
Your BK will be done when the Court closes your case. You can be discharged, but not yet closed. That's a formality and generally happens soon after the discharge.
The foreclosure has nothing to do with your BK. If you included the house in your BK, you've officially been discharged of any responsibility for the debt. But your name is still on the Deed. The foreclosure is a legal formality the Lender has to go thru in order to lay claim to the Deed so they can resell the property.Filed Ch 7 - 09/06
Discharged - 12/2006
Officially Declared No Asset - 03/2007
Closed - 04/2007
I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.
Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen... -
The Next step
What you need to know is what your next step should be. Do you want to keep the house? Do you want to sell the house? Do you feel like walking away (never a good choice)? You do probably have more options than you might think. I've dealt with a lot of people in seemingly hopeless situations regarding foreclosure, only to see them save their house in the end. Being proactive is very critical.
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