Foreclosure University Forum


protected with chapter 7 bankruptcy discharge

by foreclosureuniversity ⌂ @, Tuesday, July 20, 2010, 08:05 (3549 days ago) @ maryland101

� Hello,
� I filed a chapter 7 no asset bankruptcy in 08 and got my discharge in Jan
� 09. Through bankruptcy I surrendered the home and moved out also in 08
� (value was 360k and fell to 230k). Prior to filing bankruptcy we did
� everything to sell our house. My lender Bank of America refused to sell
� below the price owed to any would be buyers. The house has been empty for
� 2.5 years and they still have not forclosed on the property( they have
� made many empty threats but they always back out at last min) thus
� leaving the house in my name. The house has been empty all this time and
� has been completly trashed by looters. B of A has been paying the
� property taxes and cutting the grass up to now. But I'm afraid that if
� they stop the county says I will still be responsible for this property
� since it's still in my name and I can't afford that. I was wondering
� since they can't come after me for any deficiency because I'm protected
� with the bankruptcy discharge, can I just do a quit claim deed back to the
� lender since I don't need their permission to give it back to them> I have
� begged them to foreclose but they won't. What other options do I have> I
� live in maryland.

You filed chapter 7 are protected now by bankruptcy law. They can't tell you that you are responsible for the damages, that is their problem now because the home, if you said correctly, was part of the bankruptcy. It sounds to me like something else is going on, like maybe a short sale which is postponing the auction. They will eventually foreclose, take back the property and sell it as an REO if no one bids at auction. You just need to let things run their course.

Good Luck

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