What to do if our 3rd mortgage was discharged in Chapter 7 but the bank that held this loan continues to threaten us with forclosure if we don’t pay them?

Get Legal Help Today

 Secured with SHA-256 Encryption

What to do if our 3rd mortgage was discharged in Chapter 7 but the bank that held this loan continues to threaten us with forclosure if we don’t pay them?

Is this legal?

Asked on April 10, 2013 under Bankruptcy Law, North Carolina

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Yes, it is legal. The *debt* may be discharged in bankruptcy, but that does not void the security interest; the lender is entitled to foreclose, unless you and they work something out. What they can't do is sue you personally for the money. "All" they can do is take the property.


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 with SHA-256 Encryption