I don’t really know what does happen.

My friend is under water on her house in Las Vegas, can’t rent or sell it & has decided to file bankruptcy. So what happens to her house now?

I’m a property manager but not a sales agent so I don’t really know about this kind of thing.
She already tried to short sell- bank would not agree.

Yes she has other debt.
OH – OK. So she can give the bank possession of the house during the bankruptcy then it turns into a foreclosure. Did I understand that right?

Technorati Tags: amp, bankruptcy, foreclosure, las vegas, possession, property manager, sales agent

My girlfriend and her husband are considering on filing Bankruptcy, but wanted to know exactly how it appears on their credit report? He already has a Foreclosure, Repossesion and countless of other delinquencies.Anyway, when he files for Chapter 7 will all those deliquent accounts be removed and the only thing appears on the report would be BANKRUPTCY or will it still reflect those creditors in addition to Bankruptcy? I think it would but that’s just my guess anyway if anyone here has filed and saw how it’s reflecting on their report, please reply.

Technorati Tags: chapter 7, creditors, delinquencies, deliquent accounts, filing bankruptcy, foreclosure, girlfriend, guess, reply, repossesion

I thought my mortage was re-affermed for two and a half years until I got my credit report and it said it was discharged. I talked to my bankruptcy attorney and he also told me it was discharged back in january 2009. My realter and I are trying to shortsale and I have stopped making payments. What can the lender do as far as credit reporting and foreclosure process? Shouldn’t they have come taken the house after bankruptcy? Im confused!

Technorati Tags: bankruptcy attorney, credit report, credit reporting, foreclosure, mortage, realter, two and a half years

I had a 3 year lease, my landlord lived out-of-state, he stopped paying the mortgage on the house I rented, used my rent money to pay on his home in TX and filed for bankruptcy when the IL house I was renting went into foreclosure.

I sent him notice that I was moving out in 45 days when I found out he was losing the house. I was current with rent, left the house immaculate (took pics, videos, and a statement from this real estate agent that I left the home in beautiful condition).

He agreed in writing to my move-out date, and also put in writing that HE broke our lease. I did not pay him the last month’s rent (00) because he owed me the 00 security deposit and another 5 in lawncare expenses and some smaller maintenance expenses (I have that in writing from him, too). As he had filed BK I did not feel he would pay me those monies which I why I did not pay the last month’s rent.

LOOOONG story short, he sued me for the last month’s rent, added on another 00 for the 5 days extra I took to finish moving out (he was not offering the home to rent to anyone else, no one was viewing the home – he lost no money as a result of those 5 days).

The day of court, I showed up with my attorney, all my paperwork, receipts, etc and my landlord did not show up but his attorney did. 11 months later I missed a follow-up court date as I was NEVER served or sent notice of the appearance and of course, a default judgment was made, plus fees for his attorney and court costs.

Sorry, long-winded – but here is my question: Can I sue the landlord for return of my security deposit, the lawncare service fees, etc – all the things I have in writing that he owes me? The attorney I had initially hired cost me 0 to show up in court the day my landlord did not. As he already filed for bankruptcy, if I won, he would have to pay me, correct? He is working – I know what company he is now at.

I am in IL and he is in TX which I understand has some kind of homestead rule where creditors cannot put liens on property or garnishee paychecks.

Thank you for advice!
Thank you both very much for replying.

The ex landlord filed his BK over a year ago, so I would think it would be completed by now. I figured anything he gets sued for after it is discharged, he would need to pay? I am certain the money he owed me was not included in his filing – I was never contacted by the court as a creditor.

I do not have funds right now to pay my attorney additional money (got laid off a few months back). So…no money for him – no help from him.

Regarding my getting served about the second court date – no I did not move. When I called the landlord’s attorney, he stated he sent me a notice via regular mail to my correct address. Did not get it. I am working on getting the judgment set aside, but as I found out about the default judgment more than 30 days after the fact, this is a bit difficult.

You are good folks for helping me out – thanks!

Technorati Tags: appearance, bankruptcy, bk, creditors, default judgment, foreclosure, homestead, landlord, lawncare service, maintenance expenses, money, monies, mortgage, paperwork, real estate agent, receipts, security deposit

My husband died last month and I lost his Social Security Disability. I am going to lose the house. My pay was cut last year by 10 percent due to the economy. I owe twice as much as the house is worth. Lender won’t modify the loan enough to help (plus I have a second Mortgage). I can’t short sale…. I want to talk to an attorney about whether it would be best to file bankruptcy or go into foreclosure. Both have long term ramifications and I don’t want any surprises. I need to talk to an attorney, but how do I find one and what kind?

Technorati Tags: bankruptcy, economy, foreclosure, ramifications, second mortgage, social security, social security disability, surprises

My HOA’s Attorney raked up excessive unjustified fees on me for their own personal gain. I was late paying my HOA fees initially and willing paid the stated late fees along with my HOA dues. However, the Attorney collecting these fees does not accept credit card payments over the phone or online, etc. Therefore, I mailed the amount owed. To my surprise, I later received another letter indicating I owed another 0 for late fees. I ignored this notice b/c I thought that they probably didn’t input my payment in their system prior to the letter going out. So I received another letter stating I owed the 0 plus additional fees, and so on. Basically, each time I paid the stated late fees via mail, the Attorney claimed my payment didn’t arrive on time to their Office, and therefore I owed additional late fees.

In addition, all of my payments were applied towards Attorney late fees rather than my HOA dues. My dues were only 0 per year, but within that year I paid over 0 in additional fees that were never applied towards the full amount owed to my HOA. The Attorney continued to take their money off the top and say that I still owed a balance towards my HOA dues. As a result, I stopped paying b/c I felt I was being ripped off and the fees continued to increase. They ended up suing me for the amount they claimed I owed along with more Attorney fees and court cost.

Since I mistakenly missed the initial court date, when I showed up for the second court date where they filed a judgment against me, they won simply b/c I missed the initial court date. Now they are garnishing my bank account for the amount owed from the judgment.

Currently, I’m unemployed and my home is in foreclosure. I recently filed chapter 7 bankruptcy to stop the sale of my home so I can have time to secure a job and work out a modification on my home loan and get it out of foreclosure. I have not had the meeting of creditor’s as of yet. Can I discharge the past due HOA fees from the judgment/garnishment? I am willing to pay the past due HOA fees I accumulated after the garnishment since I intend on keeping my property. Also, I live in Georgia. Thanks for your answers.

Technorati Tags: attorney fees, chapter 7 bankruptcy, credit card payments, creditor, foreclosure, hoa dues, home loan, job, judgment against, late fees, mail, money, personal gain, surprise

My parents just filed a mortgage with Option One along with a loan from a small company called Residential Access. I research Option One online and found many many many consumer complaints on them. Almost all of the complaints have said that they resulted in foreclosure after filing with them.

What do I tell my parents to do seeing the problems they are going to get into? We have already been in foreclosure (with another company) once and I don’t know what will happen if Option One will send us to foreclosure.

How can I prevent this from happening? Can my parents switch to another mortgage company?

PLEASE HELP! my parents are not fluent in english so I have to help them with all this and I am fresh out of high school starting college so I have no idea how the mortgaging and financing system works.

Technorati Tags: consumer complaints, foreclosure, mortgage company, option one online, parents, research option

Ok here’s the story my husband and i met 2 years ago…one year before that he bought a new mobile home. When we got together and decided to marry we knew that his home would be to small for us as i have 3 kids. So we did a land contract with some family friends and they moved in and took over the payments while we lived in the home im buying. The mobile home is on a rented lot and so the contract we all signed is just a formality and not legally binding…anyways the couple just up and decided to move out and back into their previous home that couldn’t afford the payments on until the bank did some adjusting and now they have an affordable payment. Now i have this mobile home with a 0 a month payment plus lot rent and my home which is 0 a month and we just cant afford both. So should i call the bank and tell them i cant do it and try to give it back to them or maybe a short sale or should i just file bankruptcy and clear all the crap my husband and i have on our credit anyways? The house im buying is on land contract but its a legally binding contract and we want to keep this house. Also should i wait and file bankruptcy after the sale or foreclosure so that i can clear that also on my credit? Im so confused and if we could afford it we would keep the mobile home for my daughter who will be 18 in five years but we just cant. We aren’t just wanting to file because we don’t wanna pay it we just really cant do it and try and raise 3 kids …its just to much for a family of 5 who’s income is not that great. Thanks in advance for any hep or advice you give.

Technorati Tags: bankruptcy, binding contract, crap, family friends, foreclosure, formality, hep, land contract, mobile home, thanks in advance

I bought my home in 2006 and put down $ 100k, yes its 20% down for a $ 500k house. I have put in another $ 50k in upgrades and remodel. Fast forward to 2009, laid off, no income I resort to using my credit card to pay my mortgage while my house was being listed by my realtor. 6 months went by, then a year, the house remained unsold. I’m up to my limit in credit card debt, thinking to sell the house for $ 350k, which will give me approx. $ 50k to pay my credit cards. Year and a half later, house is in foreclosure; credit card at max limit. No job, no car (sold it to pay credit card debt), ..and now living like a deadbeat.

Credit card companies still call and say "hello". Same story told to them over and over, no income, no job, no money etc. They "understand". Then they sell the debt to collection agency, same thing again. I told them my story..and they don’t care. "When are you gona pay?" I say with what? I can sell my t-shirt and underwear, but that might be worth 25 cents. What good will it do? So now, they are suing me in court. Went there and told the same story…judgment for the plaintiff. Okay, now they want to garnish my wage…but I don’t got no job. They want to freeze my bank acct…I have none. They want to..probably kick my ass..that they can definitely do..but that would hurt them, because if I get hurt and sue, they probably owe me money.

So here is my dilema, should I file Bankruptcy ..as there are other creditor waiting in line to sue me. Or should I go to court and and plea guilty but have no way to pay?

Yeah, I know..I’m a deadbeat, but I don’t blame my misfortune on no one except myself. Lost my life savings and people are laughing at me. What a cruel world this is. To file BK or not to file BK? If I do, I will have a fresh start says a friend. If I don’t, my friend says that the creditors will put my balance on my credit report, and renew it every 7 years…meaning that I can call the credit reporting agency to remove it, but they have a right and probably will repost my balance…as nothing had been collected. Is this true? I thought a negative item must be removed after 7 years, but it could be put back in and stay for another 7 years?? Please help. Thanks in advance.

Technorati Tags: bk, credit card debt, credit cards, creditor, creditors, cruel world, dilema, foreclosure, fresh start, judgment, max limit, misfortune, plaintiff, plea, realtor, remodel, should I file bankruptcy, t shirt, underwear, waiting in line

I was told by an attorney that foreclosure and bankruptcy on a mortgage is 2 different things. I know that you can not apply for another mortgage for 5 years after a foreclosure and that after a bankruptcy you can apply in 18 – 24 months but does it make a difference if there was a mortgage involved in that bankruptcy. My mortgage was never reaffirmed after my bankruptcy neither.

Technorati Tags: 2 different things, bankruptcy, foreclosure, mortgage

its about a foreclosure,that i had little to do with.my credit was used but never lived in the home.

Technorati Tags: foreclosure

If I file bankruptcy or let my home be foreclosed will that affect my current credit card interest rates? Im in great standing with my credit cards. After the foreclosure happens can the credit card companies raise my interest rates or will they even find out about it if they dont run my credit again. Can they run my credit without my approval?

Technorati Tags: bankruptcy, credit card companies, credit card interest, credit card interest rates, credit cards, foreclosure

I don’t know if it’s going to be chapter 7 or 13. I’m really depressed over this situation, had perfect credit my whole life until a few months ago when my mortgage lender kicked me out of the modification for no justifiable reason and put me straight into foreclosure I have to take my income info etc. I’m confused because I wanted to initially sue my lender for not doing my loan and a BK disqualifies getting a modification, but on the other hand it stops them from auctioning the house. Anyway, if you have any advice or questions to ask please let me know.

Also, my mom added me on the title of her home a few years ago when she asked me to refinance her loan under my name since I had excellent credit. It’s in reality her home, just technically I’m on it until one day her credit is good enough to refinance back to her name and then she’ll drop me off of the title. Will this look like I have assets and affect the BK?

Technorati Tags: assets, bk, chapter 7, foreclosure, income info, justifiable reason, mom, mortgage lender, whole life

A relative is filing bankruptcy and is letting the house go to foreclosure in Indiana. He is moving to an apartment. Is he required to leave on any utilities in the house until its sold at sheriff’s sale? It’d be nice if he didn’t have to pay even the basic minimum utilities if he doesn’t have to. Thanks!

Technorati Tags: apartment, filing bankruptcy, foreclosure

My Father had been in the hospital for about a year dying from lung cancer and was in severe pain. He had told me that in the end he didn’t want to be resuscitated if he passed and had a DNR (Do not resuscitate) on file but when I got a call in the middle of the night stating he had a heart attack I raced to the hospital to find they had put him on a ventilator to keep him alive which I was happy he was but when I asked why they did that when he had a DNR order in place they said he did not so it was up to me, since I had his power of attorney, to honor his wish but it tore me apart and I couldn’t do it right away. So I called the family to let them know they should get to the hospital and explained what I needed to do and they agreed that I needed to honor his wishes but they could not get to the hospital right away so I ended up keeping him on the ventilator for another day until they arrived so I sat by his side without sleeping until the next evening when they arrived and I left the room to ask the nurse to remove the life support. He lasted another two days on his own and I stayed by his side without sleep until he passed away.

It’s been a little over a month now and all I can think of every minute of every day is that I killed my Father! I know it’s what he wanted but that doesn’t make it any easier and it’s affecting my work since instead of actually working I sit and think while just staring at my computer screen, I don’t eat lunch but instead go out to my car and sleep for an hour, my doctor put me on antidepressants (Cymbalta) which gave me some of the worst migraine type pain but on the top of my head.

I just don’t know what do do to get passed this and I think I’m going to lose my job which will cause me to lose everything else that matters to me since I’m teetering on foreclosure and bankruptcy due to this messed up economy already.

Has anyone out there been through something like this and how did you get through it?

Plz help!!!

Technorati Tags: antidepressants, bankruptcy, computer screen, cymbalta, dnr, economy, foreclosure, heart attack, job, lunch, lung cancer, migraine, nurse, power of attorney, severe pain, sleep, top of my head, ventilator

I’ll make this quick. Do to some circumstances my wife and I fell behind on our mortgage. Our lender is countrywide. We have a 100% financed sub-prime loan with an 80/20 ARM and prepayment penalty. (A piece of trash loan I know, we know better now) Also there is another Lender…Franklin Credit which makes up the 20…We filed for bankruptcy in 2006 and have been making payments for two years now…due to the economy and a few unfortunate illnesses we were not able to stay current on our chapter 13 payments…so there was a motion filed by our trustee to close the bankruptcy unless we could become current by a certain time…..

When we contacted our lawyer he told us that we had three options…
1.bring the payments current(9,000.00) of course we don’t have that…
2.Let the bankruptcy go and hang on until foreclosure on our house starts then try to start another chapter 13….
3.Modify our current bankruptcy and pay them a fee to file this motion…go get chastised by a judge…and make our payments higher.
Oh I guess there were four options…4.convert to chapter 7….

At the time the bankruptcy was initiated there were no problems in making the payments….but then the bottom fell out…I am in transportation….my overtime was cut to 0….my wife has had a significant reduction in hours and I had a surgery that kept me out of work for two months…all of this has led to the fall behind…..

Ok so I have two questions relating to this situation…..

1. Can/Should I try to refinance the loans during the bankruptcy…The mortgage payments are made through the trustee….but we still get statements from countrywide….our current statement is 3000.00 a month UNBELIEVABLE…..If we can’t refinance there is no way we can afford this ridiculous arm after the bankruptcy…

2.Will president Obamas new plan help us during bankruptcy…we don’t know what to do…stay here pumping money into bk13 that was primarily done to save our home that we may not be able to keep after the bk….or convert to chapter 7…let it all go…uproot our family and start over…or possibly get some help from Obamas new plan.

We need guidance…we are good people with good jobs…good family…and good morals…we were admittantly irresponsible in money management…we own our part and we have drastically changed our lifestyle….but we were also taken advantage of as first time homebuyers so we want them to own thier part as well….

Please anyone who can give advice on my situtaion would be greatly appreciated…please don’t soilicit us…we are in trouble…our family is in trouble as many others…we need good soild,honest advice to get back on track…..Thank You.

Technorati Tags: bankruptcy, chapter 13, chapter 7, circumstances, economy, foreclosure, illnesses, lawyer, loans, money, mortgage payments, overtime, prepayment penalty, trash, trustee

I filed for Chapter 7 in Oct 07, and got the discharge in Jan 08. In the chapter 7 I chose to just turn the house over to the bank. Now, the bank is going thru foreclosure. Am I obligated to pay the property tax? How do I respond to the foreclosure to avoid paying, since I already moved out and decided to give up the house?

Technorati Tags: chapter 7, foreclosure, property tax

I was an idiot and bought a home with my cousin. We jointly own the home. I got married and we had a baby and my cousin and I decided that I would leave the home. She signed a lease in June stating that she would be 100% financially responsible for the home for one year and keep the home in good condition. She never paid a penny. I found out in August she was going to file bankruptcy and walk away from the home. I worked with an attorney to get her out of the home so I could work figure out what to do. She did not leave until mid-September (now the home is 4 months behind in mortgage) and the house was a mess. All the appliances were missing as well (brand new stainless steel appliances that were part of the mortgage) when I finally gained entry into the home. She signed a Quit Claim Deed over to me as well. I cannot catch up on the payments and so I got the home ready to sell. She damaged the home, left it a mess and stole the appliances. I replaced the appliances (with second hand, not as nice white appliances) cleaned the home and fixed the damages. I also have to maintain the yard as well. I started working with a real estate agent and they said I needed her signature to sell the home. I called the bank and they agreed that the quit claim deed really does nothing for me at all. I had my real estate agent call my cousin to ask her to work with them to sell the home, she refused. She said she’s going to file bankruptcy and walk away free and clear, leaving me to take care of the finances of the home. My agent told her that the foreclosure that could happen would still count against her and my cousin just hung up on her. I had my father talk to her mother (they are siblings) and that got me no where. She won’t speak to me as she is "afraid" of me (she’s a lying, deceitful, nasty human being, unlike myself and I have never done anything to her except have her kicked out of the house that she lived in without paying for 4 months). Anyhow, so I have tried every avenue that I can think of to have her work with the agents to sell the home and not have a foreclosure, I feel like I am being held hostage financially. I haven’t received anything from her lawyer about her filing bankruptcy (and she hasn’t yet, I check weekly with the courts). I have a couple of questions -

1. Anything I can do to her for not working to get us out of this financial situation that she put us in? Can I legally hold her responsible?

2. When should I file a case against her for the broken lease and damages to the home? Should I wait a little longer to see if she’s putting that on her bankruptcy or not?

Thanks for any answers…

Technorati Tags: 4 months, bankruptcy, claim deed, cousin, damages, foreclosure, mortgage, real estate agent, siblings, signature, stainless steel appliances

We are currently trying to sell our home, one we can no longer afford. Since we bought our home me and my wives income has fallen roughly ,000, in February it took another hit when I was laid off. We have the house listed as a short sell and still no takers ( and I believe that it is listed almost ,000 under what we owe). Me and my wife have agreed to go back to school and live with our parents until we finish, so immediate credit credit is not an issue. Would a bankruptcy or a foreclosure be the wisest? (Mind you that our credit will really not be needed for at least 4 years.)

Technorati Tags: bankruptcy, credit credit, foreclosure, parents

Someone from Westcott Properties came to my apartment to tell me that I should stop paying rent because the building is in foreclosure.
Is there a way for me to confirm this?

http://www.westcottproperties.com/about.php

I think the owner filed chapter 11 bankruptcy.

Technorati Tags: apartment, chapter 11 bankruptcy, foreclosure, westcott properties