I filed for BK, the stay on my house was lifted. Will I be responsible for the shortfall when it is sold? I put surrender on bk filing
State/Country relating to question: Nevada
filed in NV, house is in FL
Hi and thank you for your question.Once you file bankruptcy, that discharges the whole debt. The lender moves to modify the stay to pursue transfer of the property back to them.They will eventually foreclose, but there is no deficiency, since the balance was discharged in the case. The foreclosure just transfers the title back, and that is it.Thank you for your question and good luck to you.
Better Business Bur 15yrs bankruptcy experience. Chicago Bar
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