default on mortgage

I went through bankruptcy in 2006 and opted to keep my home but the mortgage was neverreaffirmed and I have 3 liens against the house. If I am in default, will a foreclosureprocess be any different? I am thinking of giving up deed in leiu of forclosure.

Asked on June 11, 2009 under Real Estate Law, Michigan


J.M.A., Member in Good Standing of the Connecticut Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

I am a lawyer in CT and practice in this area.  Why were these 3 creditor that have liens not discharged before?  In any event, if you give a deed in lieu the creditors can still come after you (i.e. garnish your wages, take money from your bank account).  If you think that you are gong to lose the house, maybe you can try to do a short sale and negotiate with all the creditors as to a payoff so that you can walk away clear.  I advise you to talk to a lawyer that can negotiate these debts.  Do not wait on this.

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