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Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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I filed for chapter 7 bankruptcy in ohio, it was discharged

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I filed for chapter 7 bankruptcy in ohio, it was discharged in september 2008. I had 2 seperate homes with seperate loans, home #1 I live in and kept after the bankruptcy. Home #2 was included in the bankruptcy debt. We are now in the process of foreclosure on house #2, my attorney says this is "normal" and it is what the lender has to do to protect their interest in the property and that we will not get a deficiency judgement since the balence was cleared in the bankruptcy. Is this true? I also feel mislead by my attorney that I (and my husband) will have a foreclosure and a bankruptcy on our record which is why I went bankrupt in the first place (to avoid a foreclosure).   Also, I am currently leasing a vehicle, which I reaffirmed, will I have trouble purchasing the vehicle when the lease is up, due to my credit score?
Submitted: 8 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 8 years ago.

Hello,


Thank you for your question. I am happy to assist you.


Your attorney appears to be correct. Absent a court order to the contrary, you do not appear to have personal liability on home 2. The bank is executing on its security (the house).


You may have difficulty leasing a new vehicle for the next couple years. However, had the property gone into foreclosure without the bankruptcy, you would likely have had even more difficulty due to the deficiency on the loan.


I hope that the information which I provided was helpful to you.


Best wishes for a successful outcome. If you have additional questions, please do not hesitate to submit them to me directly.


Thank you,
FLAandNYLAWYER


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