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Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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I have done chapter 7 and got discharge last month. I now relise

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I have done chapter 7 and got discharge last month. I now relise I can not live in my home and I am surrending it at the end of the month. the 2 mortgages were listed and showed a secured portions : the 1rst mortage secured in intirety . the second mortgage showed only 15000.was secured instead of 65000. my question is: as I am leaving this property to the bank will I be responsible for the secured portion of the scond mortgage in this forclosure. and when do I stop paying for homeownner insurance and taxes.

Thank you for your question.

You will want to stop paying the insurance, taxes and mortgage since you are surrendering the property. You will want to contact the bank an arrangement to take title
Customer: replied 7 years ago.
I called the bank and they said just lock the keys inside and leave, but they asked me to paye for homeowner,(my deductible is 1000. and I am worried something will break inside the house and I will be liable for repair... please help me understand what u mean with arrangement to take title... thanks a lot
If you do not pay the homeowners insurance the lender will paid for you. They need to protect their security interest. It is no longer your liability.
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