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Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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Back in Jan of 2002, my husband and I filed for ch 7 bankruptcy

Resolved Question:

Back in Jan of 2002, my husband and I filed for ch 7 bankruptcy in Mich. As a result, we gave back our home(turned keys over to our lawyer)too. In May of 2002, I had to provide a home for my family, so my Mother and I together got a mortgage jointly, for a brand new Manufacturing home on a lot in a community. In sept 2002, bankruptcy discharged. Since then, anytime I try to contact this mortgage company, they always transfer me to bankruptcy dept. If I am late, even up to 3 pymts, they never send my mother or i a late payment notice. Also, they have told me many times that my mortgage is really not a mortgage but a home equity loan. I don't get it. I never got cash back. It was a new home purchase. Anyrate, my question is am I or my mother liable to pay for this home? and what consequence would she or i face if we walked away from this home? I do thank you for your time as it is most appreciated.
Submitted: 8 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 8 years ago.
Hello,

It appears that the lender mistakenly thinks that the mortgage is involved in an open bankruptcy. If you were to walk away from the home, they may discover their error and pursue a deficiency judgment against you and/or your mother.
Ellen and other Bankruptcy Law Specialists are ready to help you
Customer: replied 8 years ago.
I understand your point, but...I had lengthy conversations with the bankruptcy dept, telling SUNTRUSTthat they were NOT part of the bankruptcy! She continued to evade my question of whether or not my mother nor I was liable but gave indication that it looked as though it was included.
Next issue is why or HOW can Suntrust give me a "HOME EQUITY LOAN" as a primary mortgage when a home equity loan is based off the equity you have in your home, when 1) the home is new, 2) I received no cash out??

I was under the impression that it was a mortgage. However, Suntrust continually tells me it is not.
Is this not illegal?
Expert:  Ellen replied 8 years ago.
Hello,

It appears that SunTrust's records are simply incorrect. If your property goes into foreclosure, you can challenge the the loan and request that SunTrust produce the original note. If they cannot produce the original note, you may be able to have the mortgage set aside.
Ellen and other Bankruptcy Law Specialists are ready to help you