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cfortunato
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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Should a foreclosure that has had a recorded NOD, Notice of

Resolved Question:

Should a foreclosure that has had a recorded NOD, Notice of Trustee Sale, and the property has had an assignment Deed of Trust within one year immediately preceding the filing of BK be put on #4 of Statement of Financial Affairs?
Submitted: 2 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 2 years ago.
Hi JACustomer,
If the foreclosure was a judicial foreclosure, it does belong on line 4 of the Statement of Financial Affairs (SOFA). If the foreclosure was a non-judicial foreclosure, it does not belong on line 4 of the SOFA.

I think this is what you wanted to know. If not, please let me know.
Thank you.
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience: Bankruptcy professor.
cfortunato and 2 other Bankruptcy Law Specialists are ready to help you
Customer: replied 2 years ago.
thank you, XXXXX XXXXX what I wanted to know. Therefore does it only go on Schedule A and D and then listed as unsecured and on F because it was recorded within 90 days of me going to file my voluntary petition? Also they didn't record it within 20 days of owning it
Expert:  cfortunato replied 2 years ago.
If the property has already been sold at a foreclosure sale, that means you no longer own the property, and it does not belong on Schedule A or on Schedule D. The mortgage belongs on Schedule F.
Customer: replied 2 years ago.
Do I list the amount as zero?
Expert:  cfortunato replied 2 years ago.
No - the amount listed on Schedule F should be the balance of the mortgage.
Customer: replied 2 years ago.
my original question relates to an assignment that has not yet foreclosed
Expert:  cfortunato replied 2 years ago.
If the property has not yet foreclosed, the mortgage belongs on Schedule D, and the property does belong on Schedule A.
Customer: replied 2 years ago.
would we check "contingent" if a dispute is in Progress?
and could you please explain "unliquidated?" would that pertain to a lien that will be avoided?
Expert:  cfortunato replied 2 years ago.

A debt that is in dispute cannot be "contingent", which refers to a debt that has not yet been incurred.

"Unliquidated" refers to a debt for which the amount owed has not yet been figured out. It does not refer to debt that is in dispute, and it does not refer to liens that will be avoided.

In summary, for your mortgage, you would check "DISPUTED", and you would not check "UNLIQUIDATED" or "CONTINGENT".

Customer: replied 2 years ago.
But it actually is unliquidated and not figured out and I never consented to it and it's basically a virus that's on my public record but has no business being there and it is actually the definition of contingent. What is wrong with checking all 3 for a known to be fraudulant executed doc?
Expert:  cfortunato replied 2 years ago.

Thank you for accepting my answer!

There would be no harm in checking all three - as checking any of the three (or all three) will not affect the discharge of the mortgage.

Customer: replied 2 years ago.
If they don't object they can't enforce it can they? On my credit report it lists a mtg company and then says "transferred" does that mean that mtg co was the lender or servicer? And they no longer have it? They also put foreclosed on it for the month it was supposed to foreclose but I filed ch 7. Is that unusual for it to say foreclosed when it didn't?
Expert:  cfortunato replied 2 years ago.

1) Your Bankruptcy can discharge your liability to pay the mortgage, but it cannot remove the lien. So the mortgage company can continue to enforce the lien.

If there are fraud issues involved, and if your goal is to have the mortgage rescinded, this is something that has to be done in civil court - the Bankruptcy court will not determine that your mortgage is fraudulent, they will only discharge your liability to pay the mortgage.

2) "Transferred" usually means the mortgage was sold to another company.

3) Yes - it is not unusual for a mortgage to be listed as "foreclosed" even if it has not yet foreclosed.

Customer: replied 2 years ago.
Hence the lien avoidance? Is their a specific motion in bankruptcy court to dispute the validity of the lien? And would I have to submit evidence that it's not valid or would I wait to see what they furnish showing their lien is valid?
Expert:  cfortunato replied 2 years ago.
You cannot dispute the validity of a lien in Bankruptcy court. This has to be done in civil court. In Bankruptcy court, you can only have the underlying debt discharged. You cannot have the lien or the underlying debt determined to be not valid.
Customer: replied 2 years ago.
Can I do that while in bk? Or do I need permission of trustee who abandoned all?
Expert:  cfortunato replied 2 years ago.
You cannot do that in the Bankruptcy court, because having a mortgage or mortgage lien determined to not be valid is not something that a Bankruptcy court handles. This is something that has to be done in civil court. If your mortgage is being foreclosed in court, that is the court and proceeding in which you can claim your mortgage is not valid. If your mortgage is being foreclosed in a non-judicial proceeding (not in court), you would have to hire an attorney to file a mortgage fraud proceeding in civil court.
Customer: replied 2 years ago.
Ok thank you so much. And about voiding a debt that was never perfected or recorded? That is a motion to avoid non possory money purchase loan, yes? My last question as I guess this isn't the route to take, but civil court is
Expert:  cfortunato replied 2 years ago.

In Bankruptcy court, you can have a debt discharged - not determined to be void. You would have to have the debt determined to be void in civil court.

However, you have to be careful, because if you have the mortgage determined to be void, that means your house will have more equity. More equity means it can be more likely the house could be taken by the Bankruptcy court if you file a Bankruptcy.

What is the current market value of your home?

Is there only one mortgage on your home?

If not, what are the balances on each mortgage - including the fraudulent one?

Customer: replied 2 years ago.
The house I'm filing as exempt and has all my belongings but I don't live there is valued at 275,000.00. I took off 5 percent selling cost and put that value. Because of my age and disabled I have 175,000 homestead exemption. I have a recorded HELOC of 100,000.00. And a silent since 2003 1st mtg that they somehow obtained from the bk lender I had refinanced with. 10 days after bk lender recorded their lien, the previous lender filed a full reconveyance to me. So the most recent recordings are the reconveyance and the HELOC. If I void the non-purchase money 1st mtg, then my homestead exemption plus HELOC is more than current value of home. That's why I am assuming he can't/won't sell it, because it'll eat into my homestead. I also have a judgement lien recorded from a debt collector for $10,000.00 that I want to file a motion to void, and a judgement from a cc that was never recorded and my credit report says is charged off.
BTW, since the cc company didn't record the judgement they got, does it only go on sch f and not D?
At first I put the house I'm living in as homestead and trustee said he would sell above house so I switched the homestead to the house.
The house that has fraud written all over it recorded their assignment of deed of trust one month before I filed skeleton petition and 3 months, not 30 days after they were purportedly assigned it. Because it was during the 90 days prior to me filing bk, I thought I could motion to void it, unless I'm reading it wrong and only the Trustee has the "strong arm" price large to do so. However I found forms/templates I'm using from law library and other cases/sources. I don't know if I'm wasting my time and the judge will laugh it out faster than it came in. I am thinking I should get the trustee involved. I'd rather he get the money from the house and pay creditors, but would he have to pay them all? Or would I get leftover money from the sale?
One more ?
I pulled my credit report and so far 3 entities have reopened and reported on my credit their debts that I put rightfully so on sch F. A dentist, credit card and doctor bill. I am due for discharge and no objections filed in this no asset case. I thought no one could put anything on my credit report once discharged. They were noticed immediately from the court.
Expert:  cfortunato replied 2 years ago.

After discharge, the only information on your credit report can be the Bankruptcy. If anything further is put on your credit report, the credit bureau must remove it if you bring it to their attention.

Customer: replied 2 years ago.
but its ok for them to put the debt on my credit now? when the automatic stay is still in place? for 6 months, and none of these lenders have tried to lift the stay. Is that common in a Chapter 7?
Expert:  cfortunato replied 2 years ago.

If the debt was included in your Bankruptcy, as you have said, then the creditors can indicate on your credit report the fact that the debt was included in a Bankruptcy, even if there was nothing from these creditors on your credit report before your Bankruptcy.

Customer: replied 2 years ago.
well, they can have it, ya know when there's someone with a gun in your face, right or wrong, your not gonna argue. well, they have a gun and I'm done. btw, can you explain what good it does them to put it on my credit a week before discharge? I'm sure you must know something about, well i saw just now you do consumer law, and it's legal for them to mark your credit up? what happened to the "fresh start?" that's not a fresh start. Is it also legal for them to be publishing the auction every 20 days? and I have people in my yard, at my door waking me up and frickin stressin me out to the max cuz they all want to buy my house and i tell them it's under the stay and they argue, no they could have gotten it lifted, or they for sure are going to sell it or else they would have put postponed due to Bankruptcy. Isn't that a violation or is it like all the laws or most I've seen, the laws are there for them to follow, like putting the right beneficiary on the NOD and Notice of Trustee Sale, right? Or there's not even a slap on the wrist for that. Basically, what I have learned or seem to be learning here is...yes there are laws for them to follow, but if they don't follow them, that's ok? wow, what a place to be in...snotty frickin spoiled brats....they are basically above the law. They can put whatever beneficiary in the foreclosing documents, not tell you who they are or who the lender is or if they are the lender or servicer and they don't even have to talk to you at all, they can just be assigned the loan and ignore your sorry ass. Sorry for the unprofessionalism, but I find it hard to be phony and act super professional when really they are raping your mother, sister and neighbor, but when they talk, they might sound sharp as a tack or look that way....because it's your mother, sister and neighbors money that's funding their ill gotten belongings. I say "you" as to everyone, all of us, they are rapin the heck out of us and it's ok. I don't suppose you can answer that one...botXXX XXne, they are worse or better than Hitler, they've already slaughtered more than 6 million....how many years did Hitler do til finally someone said, "weeeeeelll....hmmmm, lets see, maybe this isn't ok, or maybe that's good, we got everyones money, so we can stop him now." I'm not so sure I'll be needing this sight anymore, as I'm forgetting what the fight is for. Oh yeah, Justice, hahahahah, yeah right

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