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socrateaser, Attorney
Category: Bankruptcy Law
Satisfied Customers: 37871
Experience:  Attorney and Real Estate Broker -- Retired (mostly)
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I have a house in judicial foreclosure. Judgement of foreclosure

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I have a house in judicial foreclosure. Judgement of foreclosure has been issued. Bank only bidder at auction so bought the house back for $500,000.00. Confimration hearing set for the end of the month to 1. Confirm the sale and 2. Enter a deficiency judgement in the amount of approx 350,000.00

My questions:
1. Do I need to list the house as "real property" or can I leave it off the papers all together and just enter the amount of the deficiency judgement.
2. When I list the amount of the deficiency judgement is it considered a secured or an unsecured debt? (I'm guessing unsecured)

What "papers" are you talking about?


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Customer: replied 7 years ago.
Sorry, I'm filing chapter 7 bankruptcy. so the question refers to the bankruptcy papers and the legal status of the house and debt.



You don't own the property, so you don't have to list it, and;

The deficiency is unsecured, because you don't own the property.

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