mortgage after bankruptcy discharge

mortgage after bankruptcy discharge
Chapter 7 bankruptcy discharge in the 2 Mortgage?

What could happen at the closing of the sale of my house, because the following facts? Bankruptcy In early October 2005 (the middle of a rush of filers still looking for before the law changed). In early 2006 release. 2 listings for the mortgage House: First, from the lender. Second mortgage payment is not forgivable rehabilitation loans from our local housing estate. The loan will be no payments, and by 10% per year after 5 Years in the house back (quite forgiven after 15 years). This zero-payment, which was forgivable rehabilitation loans secured 7 years ago. Did not confirm either mortgage. In House Stayed. On sale of the house now. Will not sell for enough to cover both mortgages. What happened? Can I be sued for a deficiency verdict? Will the new development show the closure and demand payment?

If you can not sell the house for enough to cover both mortgages, why are you selling? You have no personal liabiltiy on the mortgage. You can walk away from the house and make the lender to sell the house at a loss. Actually, you can not Make payments to foreclose until the lender decides. Once they decide to foreclose, it is still approximately 2 months in your house before you had to leave. They you in your place to stay 4 months without a mortgage payment () rent free. Unable to prove after the foreclosure, up on your credit report, because they the debt (personal liability) has already been sacked in 06th I'm no lawyer, but in a similar situation. I have tried to use my Chapter 7 for the lender, renegotiation get my arm. You do not have to be renegotiated, for a reasonable rate so that they are back to get the house (but they did it to me through foreclosure) can

Mortgages after Bankruptcy

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