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Richard, Lawyer
Category: Bankruptcy Law
Satisfied Customers: 55716
Experience:  32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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A bankruptcy was filed in 2004. Included was the personal

Resolved Question:

A bankruptcy was filed in 2004. Included was the personal loan on a mobile home and bare land. The occupants chose to keep making the payments but did not declare the debt as wanting to be re-affirmed. Four years later they left the property and the original lien holder regained their collateral. Would there be a change of title or foreclosure proceedings at that point when the debt was discharged in the BK?
Submitted: 6 years ago.
Category: Real Estate Law
Expert:  Richard replied 6 years ago.

Good afternoon. The bankruptcy would not have resulted in a change of title or foreclosure. The only thing that bankruptcy would have done would have been to discharge the occupants from any personal liability for any deficiency.



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Customer: replied 6 years ago.
What I need to know is when they quit making payments on a un reaffirmed debt four years later, would there be in recourse against the original buyers?
Expert:  Richard replied 6 years ago.
If the original buyers were the ones that went bankrupt....there would be no recourse against them.
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