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socrateaser, Attorney
Category: Bankruptcy Law
Satisfied Customers: 37815
Experience:  Attorney and Real Estate Broker -- Retired (mostly)
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Thank you, Socrateaser. I am at risk whether or not I redeem

Resolved Question:

Thank you, Socrateaser. I am at risk whether or not I redeem the property. In what way? Not just a lien on the property? My BK attorney said in Calif I would not be liable and there were two other properties foreclosed and sold that I have not been contacted about. Please advise.
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  socrateaser replied 5 years ago.
Your risk, unless I misunderstand, is that the property could be foreclosed. Failure to maintain the tax payments and HOA fees is almost certainly a default under the original loan agreement, and although you cannot be sued to collect that debt, the lender could use your failure to pay the assessments are grounds to foreclose.

The lender can't reach you personally for any unpaid deficiency -- but, it can take the property -- which is why I say you are "at risk."

Hope this helps.

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