What do I do if the bank filed in court to foreclosure on my homebut itwas included in my bankrupcty?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

What do I do if the bank filed in court to foreclosure on my homebut itwas included in my bankrupcty?

We filed a Chapter 7 that was discharged almost 5 months ago. Our home was included in the bankruptcy and not reaffirmed. We stayed current on the home until the discharge. The bank has now filed a judgement against us.What does this mean? Will we owe money? Should we go to court? Should we speak to a bankruptcy attorney? In Hamilton County, OH.

Asked on July 21, 2011 Ohio

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 13 years ago | Contributor

You should first speak to a bankruptcy attorney about a foreclosure of your home after you filed for bankruptcy protection. Bankrupty is complicated. If you filed a re-organization bankruptcy (Chapter 13), the bankruptcy order may have set forth a payment plan with the mortgage company that hold the loan toyour house that it must follow.

If you filed a liquidation (Chapter 7) the mortgage company may have obtained relief from the bankruptcy's automatic stay to foreclose upon your home that is presumably the security for the loan.

Since the home was not part of the discharge, the lender foreclosed upon the house in your question, sold it for a loss and is now suing you for the loss apparently. If the bank has a judgment against you for the deficiency, you would know the dollar amount. I suspect there is no judgnebt yet, you are being sued for a deficiency judgment.

You should contact a good bankruptcy/real estate attorney.

 


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption