i have a judgement lien from HOA on property that they are trying to foreclose. I am now paying HOA since filing for BK (monthly dues).I know i need to claim an exemption on the property on Scheule C, and I was citing C.C.P. ss 704.730 as the law specifying exemption. but what do i put for my value of claimed exemption for the property? and do i also claim HOA on schedules A, B, or C? or only on D as a secured debt? Lastly, do i put the amount they filed when they filed the judgement or current amount due on the judgment? (i'd have to call and ask them, thanks)
State/Country relating to question: California
Hi JACustomer,What is the current market value of your property?What is the balance on the mortgage?
What is the current market value of your property? $160-180. Zillow says $180, but that can't be right, i was going to check craigslist for houses being sold like mine. also my house needs new a/c (its broken 3-5k) and has no landscaped backyard yet $10-15k. so should i deduct those costs along with realtor fees and other fees in the current market value?What is the balance on the mortgage? I just called the lender, and the lady said, "$346,432.51 is unpaid principle balance she said, and i told her I'm asking for the balance of the mortgage. she then told me the delinquent amount is $57,566.03"however the current beneficiary/lender has never sent me a statement and they have been the servicer/lender since November 2011. She said they stopped sending statements r/t BK but my other lender still sends statements and states they are for my records. The HOA recorded judgement lien is on this property but it also has my name as an unmarried woman, so do i have to claim the entire judgement as exempt on schedule C and do forms for Motion to Avoid Judicial Lien on Real Estate? and serve them notice before the 341 meeting?I plan on doing a TRO/injunction and having the loan and deed of trust rescinded and voided. I was going to put that on schedule B #35 for other as "Possible claim against lenders." As I plan on bringing a complaint against more than one lender. I know you said i can file a complaint in Civil Court while in BK, but don't i need the ok from the trustee first? Do I write a motion to him for that or just list it on Schedule C and go from there?
1) Given the information you provided, the value of your exemption is 0, as the balance of the mortgage (the principal) is more than the value of the property. So this property does not belong on Schedule C.
2) The debt to the HOA is an unsecured non-priority debt - so it belongs on Schedule F.
I think this is what you wanted to know. If not, please let me know.Thank you.
but the HOA recorded a judgement lien on the property and my name, so can't they still try to collect it if I don't do the motion and all the paperwork to get it removed?
Yes - you are correct. I forgot that HOA liens come before any mortgage liens.
The HOA debt is secured, and you do have to file a lien avoidance motion to have to lien removed.
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