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WALLSTREETESQ
WALLSTREETESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 15830
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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Hi I have some questions pertaining to my chapter 13 case.

Resolved Question:

Hi I have some questions pertaining to my chapter 13 case. First I shall give some background on the case. In 2010 I filed and was granted a chapter 7 discharge which my house was included in. I never signed a re-confirmation agreement with the bank, so techinically I believe I am no longer liable for the property loan. However I have continued to pay the mortgage, up until January of this year, but I got behind on my taxes, because I just didn't have the money. I lost my full time job and just couldn't make enough money selling real estate to make the high taxes. The city of schenectady started the foreclosure process, and at this point I made a decision to file for chapter 13 protection. I figured I could pay off the owes taxes through the plan, and my financial situation was looking better. I had the house fixed up and fully rented which covered the mortgage payment and house expenses. However, This past winter was aweful. The house kept having issues. I had to pay for heat, electric, and then plumbing repairs, and then one of the tenants moved out. My newly wed husband and I were fighting all the time over the stress of the house, and finally I gave up on trying to keep it. We both live in his house now and my house doesn't seem to be the good investment that I thought it was 6 years ago when I purchased it. I am still in the chapter 13 plan and I was advised to stop making payments and the trustee would file to dismiss my case. I have also stopped making my mortgage payments and I just got a letter from the banks attorney with a motion of exhibits and a notice of motion with certificate of service.They are looking to get relief from the automatic stay in bankruptcy pursuant. I am a licensed real estate agent and the market has picked up enough that I am thinking I might beable to sell the house and get enough to cover the owed mortage and the back taxes, so that everyone is happy. If I put the house on the market without notifying my trustee, will there be any consequences other than my case getting dismissed? and should I take any action to respond to the notice of action that I just received from the banks attorney. The court date is May 9th? Thank you for your help. Please let me know if you need me to clarify any of this information. I filed my chapter 13 Pro Se
Submitted: 1 year ago.
Category: Bankruptcy Law
Expert:  WALLSTREETESQ replied 1 year ago.

WALLSTREETESQ :

Hello I am a licensed attorney here to help you with your question, please review my response and do not hesitate to ask for clarificati on.

WALLSTREETESQ :

You are still on the deed, so you should try to sell the property now, if the case will be dismissed,

WALLSTREETESQ :

as long as the property is not sold within now and the Court date you should be fine,

WALLSTREETESQ :

it may be an issue, if you made a profit from the home while the chapter 13 case is still going on, however,

WALLSTREETESQ :

even if that is the case, if you no longer have the home, the chapter 13 case would not be needed, and the case would be dismissed,

WALLSTREETESQ :

so you can do this, their is no express prohibition stating you cannot sell the property at this point either.

Customer: replied 1 year ago.

So are you saying that it's okay to go ahead and put the house on the market, even though the chapter 13 case hasn't been dismissed yet? and if I get an offer on it, just make sure it doesn't close until after the May 9th court date?

Should I continue to try and sell it after the court date, even when they start pursuing foreclosure? and should I notify anyone?

Do you think that I should notify the bank or their attorney or my trustee that I am putting the house on the market or is this not necessary, because I don't care if they dismiss my chapter 13 case?

Customer: replied 1 year ago.

Could you explain why it matters that my name is XXXXX XXXXX the deed. I didn't sign a reaffirmation agreement and discharged the property in a chapter 7 bankruptcy, so I have been told that this means that I can't be sued if there is any loss to the bank through a foreclosure. Please advise?

Expert:  WALLSTREETESQ replied 1 year ago.
The fact you are still on the deed, allows you the right to sell the property, as the titled owner you can sell it, and at closing pay off the secured mortgage to close the deal, if a foreclosure occurs, the lender would be on title, so you would not be able to sell.
Customer: replied 1 year ago.

Okay. I get the deed question. Did you see the other part to my question too? I copied it below.

So are you saying that it's okay to go ahead and put the house on the market, even though the chapter 13 case hasn't been dismissed yet? and if I get an offer on it, just make sure it doesn't close until after the May 9th court date?

Should I continue to try and sell it after the court date, even when they start pursuing foreclosure? and should I notify anyone?

Do you think that I should notify the bank or their attorney or my trustee that I am putting the house on the market or is this not necessary, because I don't care if they dismiss my chapter 13 case?

Expert:  WALLSTREETESQ replied 1 year ago.
You should sell it if possible, up until a foreclosure happens,
the only time you cannot sell is after a foreclosure sale.

You do not need to contact any party, let the chapter 13 get dismissed, in NY foreclosures are not fast, so you will have some time after the dismissal to sell the property.
WALLSTREETESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 15830
Experience: 14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
WALLSTREETESQ and 2 other Bankruptcy Law Specialists are ready to help you
Customer: replied 1 year ago.
Thank you for you help. Have a nice daySmile
Expert:  WALLSTREETESQ replied 1 year ago.
Good luck, and if you have any further questions please do not hesitate to ask.

If satisfied please provide us with positive feedback.
WALLSTREETESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 15830
Experience: 14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
WALLSTREETESQ and 2 other Bankruptcy Law Specialists are ready to help you

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