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Roger
Roger, Attorney
Category: Bankruptcy Law
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when a ch 11 bk is filed under the name on title but the foreclosing

Resolved Question:

when a ch 11 bk is filed under the name on title but the foreclosing loan on the same property is in a different name, what effect does the bk have and any authority
Submitted: 4 years ago.
Category: Bankruptcy Law
Expert:  Roger replied 4 years ago.
Hi - my name is XXXXX XXXXX I'm a Bankruptcy litigation attorney here to assist you.

The only person responsible for the debt on the loan is the borrower. However, the person that owns the property can lose the property to foreclosure because of the lien.

However, the creditor would have to file a motion to lift the automatic stay with the bankruptcy court in order to proceed with the foreclosure.
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