Am I able to surrender my home to the lender after going bankrupt?
827965
Call your lender. You may be able to make arrangements to do a "Deed in Lieu of Foreclosure". It's not done often, but given your circumstances, it may work for you. Also, talk to a real estate agent. There is a chance that you can sell this property for at least the amount that you owe on it, if not more. I'd actually suggest this over the other since you have a chance of actually getting back some of your investment. I really hope this works out for you. Good luck!
42594
It depends on when you filed bankruptcy and whether or not it has been discharged.  Some lenders help clients get into homes 1 day out of bankruptcy.  You will have to put some money down most likely, but the rates aren't outrageous if you're working with the right people and hopefully the bankruptcy has improved your situation as well as credit scores.  You can probably get 100% financing if you have a 540 credit score.  I'm from the MD area and know that housing there isn't cheap.  Good luck with your search!
1065960
You cannot sell the home without paying off the second mortgage. So either you go bankrupt on both, or you pay off both in full at closing. The bank gets their check before you do, and their lien on your title will show up in the title search. There's no way to recieve the funding from the home sale without satisfying all liens first.
272808
It depends on if the bank can re-sell the property and for what amount. If your mortgage is for say 150k and they sell it for 100k, you'll still owe the bank 50k. If they don't sell it, you'll continue to owe the remaining balance on your mortgage. If you're struggling to make house payments, try re-financing your mortgage to see if you can lower your monthly payments. Also try state agencies for help in making monthly payments. You may be eligible for help depending on your income level.
1122184
whoever is one the mortgage itself will receive the bad news from the credit bureaus. The reason the bankruptcy occured, I assume, is because of foreclosure. since the mortgage is in your husbands name, it will go against him. once everything is finalized, just check your credit to make sure it doesn't affect you in the process. never hurts to check.
448776
Do you want to keep your home?  If not, sell the house.  The last thing a lender wants is to take someone's home.  They want to get paid.  Contact a Realtor (GET A SHARP ONE BECAUSE TIME IS YOUR ENEMY RIGHT NOW!) to list/market your home.  Once you go to court, the lender will have representation there.  You tell the judge that you are in the process of selling the home.  Take the listing agreement or hopefully you can have a signed "offer to purchase" that you can show the judge of your good faith.  I've dealt with cases like these alot.  I have actually left the closing and gone across the street to the courthouse on my seller's behalf to advise the judge that "we are closing as we speak".  The key is to go to court.....don't run from it.\n\nGood Luck!
444153
Essentially you will default on the loan. The bank then has several options:\n*  if they have any collateral associated with the loan, they can take possession of it. This might mean foreclosure\n*  if they see any other assets that you own, they could try to take posession of these. Since you are already in bankruptcy, they are not likely to pursue that\n*  they might offer you an option to refinance. They are likely to do this if they think you're likely to keep the new commitment, and if the fees associated with the first two options would be significant in relation to the outstanding debt. \n\nSince you are already in default and bankruptcy, and with an overall debt of more than $25K, plus fees & charges, my bet is they will move to foreclosure.
684629
There is not a certain length of time you need to wait to repurchase another home. There are some lenders that will allow you to get another mortgage very shortly after a foreclosure. Some have even gone so far as to accept a person that has completed a bankruptcy, the can get a loan after being out of bankruptcy for one day.\n\nWhere this 7 year thing comes in is that your foreclosure or bankruptcy will stay on your credit report for 7-10 years. In the past most lenders would not take a chance on you because of your credit, but things have changed and now there are some willing to take a chance on you.\n\nNow the thing you have to decide is if you want to pay the higher interest rate you will have to pay for you not protecting your credit and getting a negative on your report such as a foreclosure or bankruptcy. \n\nIt is worth it in my opinion and is better than paying rent to someone else where you derive no tax benefits and you own your own property with all the tax benefits.\n\nThere is another thing that you must remember also, all the interest and certain points and closing cost are tax deductable on your federal income tax. Check the itemized deduction page of your federal return it will say all interest you have a form from your mortgage company for then all interest you do not have a form for a mortgage company, below that is another line for points and other fees you paid to secure your loan. (Please check with your tax preparer or CPA for any tax advice) \n\nSo with that being said I see no reason for you not to purchase a home again as long as you are able to maintain the monthly payments, property taxes and annual insurance policy that is required by the mortgage company.\n\nYou should check with a mortgage "Broker" that have programs for those individuals that have had a foreclosure or bankruptcy, tell them up front about your credit problems. There are some mortgage "Brokers" that specialize in individuals with poor or no credit. Make sure that you get one that specialize in these type loans, other wise you are wasting your time. \n\nOnce you have successfully made your mortgage payment for a complete year at the high rate you will have, you may refinance to a lower rate if you so desire. The key here is that you must have paid your mortgage on time without a 30 day late. \n\nI hope this has been of some use to you, good luck.\n\n"FIGHT ON"
590594
I would attempt to just borrow the money to get back to current from a local lender.  Leave the mortgage where it is.
174914
Like anyother state you could end up losing your house unless CA allows you to declare bankruptcy and keep it. (Some states do allow this)
1078958
No. It's gone. Whoever bought it owns it and is under no requirement to sell it back to you. The time to do something about this was before the foreclosure sale, preferably before things reached this point. Not only that, if the lender did not recoup the money owed in the foreclosure sale, they can still come after you to collect the rest of what they are owed. And your credit rating will reflect this disaster for many years to come. Sorry.\n\nPS If this had been a tax sale (your property was sold to pay off unpaid real estate taxes) you would have had a period afterwards in which you could still buy back your property. But a foreclosure sale is permanent.
1031949
No, you can't The house sale is usually contingent on appraisal and loan approval. That means you can decide not to go through with the purchase. If you read the loan application, I'm sure there is something that says they aren't going to lend you if there is something they don't like about the house such as termite, roof leak, etc. Your other option is to ask the seller to repair them.
479660
I would file tommorow if I was you, once they get a judgement you cant include them in your bankruptsy. I just filed in october and it was over in march. I downloaded the forms from gov.org website and did it myself, I filed it myself and included a form to ask the court for a payment plan for the court costs which were $187.00, to be made in payments. We filed chapter 7, and because we didnt have more than 25% equity in our home we got to keep it. We wernt behind on that bill. So we just keep on paying it like usuall. We got to keep one car for each of us. Both were already paid off. My husband had one judgement that was not allowed to be discharged. And our home equity loan and mortgage was not entered as a discharge, because we are still able to pay for that. We got $69,000 dollars worth of debts discharged (meaning we don't have to pay them)The day you file, you have to pay $50 dollars toward the total if you file the form asking for the payment plan. The forms are kinda hard to understand at first.The packet is about 20 pages. One ask to list all secured debts, which are home loans or car loans. And then you list all your unsecured debts on one page meaning credit cards and hospital bills and the like with all the totals and names and addresses of the debtors, and then a page to list your income and what your personal assets are like jewlery, art work etc. Just work one page at a time, you can do it. But work fast before the judgement, and don't tell them you are doing it. The day you file you and get a number you are protected from them harrassing you, calling you or sueing you. The papers are free to download of the government web page. You have to decide which one to file chapter 7, 11, 13 depending on you particular circumstances. 7 is total and if you own more that 25% equity in a home they can sell the home to satisfy the debtors. 13 is a repayment plan I think. And state to state has different rules. Now you have to have credit counciling to, I think. The second web site has the forms free to download and the rules of the credit counciling and a listing of the individual states that you would live in. I hope this has helped you. Remember the law was set up for you to help you, when you cant pay the bills. Dont let anyone shame you. Its your right to file..
969637
Go to a mortgage broker, they are easier than banks and have a number of lending programs. Anyone can get an FHA mortgage 18 months out of bankruptcy, so I'm sure you can get a mortgage having not had any of these past issues! There may be a few things you need to touch up but I'm sure you can get a mortgage. You just have to know where to look....and don't take no for an answer.
359350
I don't think that they are allowed to seize your refund after the bankruptcy has been discharged!  I'm like 90% sure that as soon as you are discharged the people that you used to owe money too are no longer allowed to contact you in any way shape or form (to include looking into tax returns bank accounts whatever) unless you give them written permission to do so.  You should really contact the lawyer that you filed with and ask them, after all that's what you paid them for!!!
1072256
The answer is yes you can BUT the reality is that it is hard to find a lender that will refinance your loan knowing that at any minute your home could be sold and they will waiste their time and money. Most lenders will ask you to take the home off the market before you can refinance.\n\nGood luck!
811675
Go to legal aid on Monday with your copies of all the papers including the receipts for payments. You may end up owning the mortgage company if all you say is true. I wish you the best of luck.