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cfortunato
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Category: Bankruptcy Law
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Experience:  Bankruptcy professor.
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i have been reading codes for hours. i am doing a chapter 7

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i have been reading codes for hours. i am doing a chapter 7 Pro Se (i know, pretty dumb, as I also plan on doing an adversary hearing). i've been educating myself for 5 months straight and i only have a week to get my ammended schedules in. I have 2 liens recorded at the County recorder. One is from Chase credit card and the other from a HOA. I am trying to see if i need to do the forms for Motion to avoid nonpossessory, non-purchase money security interest or the ones for Judicial liens on Exempt Property. oh my goodness, no sleep for me tonight. Is their an awake attorney who might have the answer to this?
I have 2 properties and one is in foreclosure by a debt collector that has recorded a corporate assignment of deed of trust. because they recorded it, do I put them as a secured creditor? because they are unsecured, and i plan on fighting, through an adversarial proceeding (if the Trustee doesnt first decided to do the lawsuit, which I'm praying he wont)
thanks, XXXXX XXXXX questions here.
The other house of mine, my 20 year old daughter lives in and the first mortgage never recorded an assignment or lien. that house has a HELOC and it was recorded with assignments of rents. Do I list the first mortgage as unsecured because it isnt recorded? and they have no proof or endorsement from the previous bankrupt lender? thanks
Submitted: 2 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 2 years ago.
Hi JACustomer,
1) Those liens need a motion to avoid a judicial lien.
2) The debt collector has a secured interest.
3) The fact that a mortgage or HELOC is not recorded does not make the loan an unsecured loan. A HELOC is a secured loan.
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience: Bankruptcy professor.
cfortunato and other Bankruptcy Law Specialists are ready to help you
Customer: replied 2 years ago.
The trustee told me that if they didnt record a lien prior to my petition for Bankruptcy then it is unsecure and he will sell that house because the HELOC is $100k and the house would sell for $280-$300k maybe, (italics added)...is that what you say for emphasis in legal jargon?
The first which was never recorded and they do not have an endorsement with the Lender who I signed the Note and Deed of Trust with, therefore they have no standing legally, right?
2.The house I am living in is currently recorded to a debt collector, a servicer that had the mortgage transferred to them after the foreclosure was filed therefore arent they just an unsecured debt collector? their papers say "debt collectors."
3. If I use my Homestead exemption on the house that has a foreclosure stayed and the Trustee leaves it alone, then is the debt discharged because it is my homestead?
4. If I am able to keep it as my Homestead, can I still file a Complaint and actions against the servicer and lender? Or would I do that after the bankruptcy is discharged? I thought it would be an adversarial hearing
Thank you for your response, What secures their lien? Is it called a lien when referring to a mortgage deed of trust?
Customer: replied 2 years ago.
Relist: Other.
i'm totally satisfied with the original answer and attorney, I thought it said to click here to open my question to all the bankruptcy attorneys but i was totally satisfied with the answer

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