can I sell a home I did not reafirm in a bankrutpcy 6 years ago.?

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can I sell a home I did not reafirm in a bankrutpcy 6 years ago.?

Several years ago had bankruptcy stayed in home. Now looking at moving on I’m told by montage company I still own it but not responsible for it. Can I sell it or just give it them without a hit to my credit. I know it can be refinanced so I’m confused.

Asked on August 28, 2017 under Bankruptcy Law, Michigan

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

If you did not reaffirm it, the lender could have foreclosed on it (just like they could have foreclosed if you reaffirmed, then failed to make payments); however, if they never took action and the home is still titled in your name, you should be able to sell it. They had the authority to act, but you would not lose title or ownership automatically: they had to take affirmative action. That said, this is an oversimplification, and the interplay of property rights and bankruptcy is very complex; you are strongly encouraged to consult with a bankrutpcy attorney about the situation, to confirm that you can sell and also to understand what, if anything, from the proceeds you owe the lender post-bankruptcy.


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