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socrateaser, Attorney
Category: Bankruptcy Law
Satisfied Customers: 38552
Experience:  Attorney and Real Estate Broker -- Retired (mostly)
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Thank you for your previous answer. If I do not redeem the

Resolved Question:

Thank you for your previous answer. If I do not redeem the property included in my 11/17/08 bankruptcy, it will revert to the HOA in 90 days. My question is about the lender. Even tho the loan was included in the BK, they keep requesting the default amount (now $292K). My BF attorney told me at the time of the BK that it was illegal for the lender to contact me. I am concerned whether thre lender can put a lien on the property if I redeem it.

I understand they cannot but since they keep contacting me I am concerned that I would have defend myself in order to get a lien off. This info would be important and effect my decision whether to redeem the property. Please advise.
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  socrateaser replied 5 years ago.
The lender can foreclose the property if the original note is not being paid as agreed. The lender can foreclose against you, or it can foreclose against the HOA, or it can foreclose against any person who happens to have an interest in the property recorded after the date of recording of the lender's deed of trust.

Your bankruptcy has not changed the lender's right to foreclose, if the original note is not paid as originally agreed. Apparently it is not being paid as agreed, so you are at risk, regardless of whether or not you redeem the property from the HOA.

Hope this helps.

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