Chapter 7 Trustee's Report of No Distribution

[robivi3]

No I was referring to bkfiler because Min had also told him be cautiously optimistic. Sorry, but I've no experience with foreclosure.

[Minnymouth]

Jake24175,

From the sounds of your case - yours IS a no asset case....

The Trustee did not seize our home - right??

So legally the mortgage company still has a full lien against it, and can foreclose on it after discharge only. That's why they have waited till discharge. Now they will foreclose on the home - you will owe nothing because it was included in the bankrupty.

In my case the mortgage company FAILED to record their lien - thus they did not have one...........so the Trustee seized it as MY ASSET and sold it at auction.

Mine was a very unusual case with lots of strange things happening that never should have. Lots of it due to attorney negligence and due to the negligence of the mortgage company and title company.

So, now that your discharged - the mortgage company will foreclose on your property and it will be sold.

More than likely you can stay in your home till after the property is sold and then will be given 30 days to move out.....

Regarding the home exemption - since you surrendered the home - you will get nothing out of it...... I got nothing out of mine (no exemption) and THEY SEIZED IT....

Keep me posted.

[bkfiler]

minny, wouldnt they sell your home, pay the debtors and then give you back anything left over? if there was anything left over that is.

[Minnymouth]

No, was informed I got nothing out of it..... period.........

Mortgage company got 50% of the sale and they had the unperfected title - FIGURE THAT OUT ?????? With an unperfected title they became an unsecured creditor!!!!

They only had mortgage on the land, and made a great deal more than what the land was worth!!!!

I walked away with NOTHING...............

They even SOLD portable storage building THAT was on my property that DIDN'T BELONG TO ME........... (now that's another lawsuit in progress)...........DUH............. The owner had bill of sale where he purchased it in June of 2005.... Trustee said "tough luck" I'm selling it.......... Owner of property said - "Oh yeah, I'm suing ya too"!!!

Should be interesting to hear what HIS BOSS says about it all, huh........

Also, Trustee confiscated insurance checks from me which he stuck in his pocket, made no record of collecting in his report to the court (also did not report the building)....

Trustee has made no accounting to the court where the funds were dispensed too except to him and the auctioneer.

He has to file an accountablity of the "estate income" and where it went.... I'm waiting to see just what he really reports...........should be interesting.

[Minnymouth]

Remember I bought my home back from the buyer who bought it at auction. Have not filed my deed yet..... Trustee may be waiting to see if I bought it back (my case is still open)..... then file for it as an available asset for him to seize again..... I'm waiting to see what's UP.....

[bkfiler]

seems like if thats the case then its an asset after the petition was filed. if you are unsure i would go get free appts again with attorneys regarding these matters. extra knowldge couldnt hurt over the long run and berter if its frreeeee!

[Minnymouth]

Yeah, am going to check into this real close before I record any deed again....
I might get screwed once by that trustee, but twice - shame on me.................