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Went thru bankruptcy Feb. 2011, and are still awaiting the foreclosure of our home. How c

Customer Question
Went thru bankruptcy Feb. 2011...
Went thru bankruptcy Feb. 2011, and are still awaiting the foreclosure of our home. How can I just turn it back to the bank?
Submitted: 5 years ago.Category: Bankruptcy Law
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Answered in 5 minutes by:
4/2/2012
Bankruptcy Lawyer: WALLSTREETESQ, Attorney replied 5 years ago
WALLSTREETESQ
WALLSTREETESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 17,253
Experience: 14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
Verified

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 :

Are you living their
?

WALLSTREETESQ :

Or have you moved out?

Customer:

We have not lived there in over 3 years and it is a townhome.

WALLSTREETESQ :

was the house listed in your bankruptcy?

WALLSTREETESQ :

Are you being billed for any taxes?

Customer:

Yes

Customer:

No taxes as yet, but we are being billed for the Homeowners association dues

WALLSTREETESQ :

what has the lender stated when you contacted them?

WALLSTREETESQ :

Did you surrender the property?

WALLSTREETESQ :

in the bankruptcy filing?

Customer:

We have not contacted them And it is Bank of America.

Customer:

The attorney that we used did not surrender the property. He stated that it was understood. i am now finding out that it is not.

WALLSTREETESQ :

the lender has not started a foreclosure suit?

WALLSTREETESQ :

Have you contact the management board to offer a quitclaim deed?

Customer:

They stated that they were back in December of 2010, so I kicked my renters out.

Customer:

which management board?

WALLSTREETESQ :

who do you pay common charges to?

Customer:

Taos of Lone Tree

WALLSTREETESQ :

1. You should contact Taos of Lone Tree, and advise them you want to deed over the property to them,

WALLSTREETESQ :

2. Contact BOA to quit claim it to them as well,

WALLSTREETESQ :

3. If both will not agree, rent out the property again and collect rent, until the

Customer:

Is it common for them to accept, and what if they do not?

WALLSTREETESQ :

bank take care of this

WALLSTREETESQ :

The bank should agree, as they would save money,

WALLSTREETESQ :

the management company, may agree, so they can sell it or rent it out,

WALLSTREETESQ :

if both do not accept the deed, they have to spend money to foreclose, and sell it themselves

Customer:

So I should first contact the management Co and let them deal with the bank if they accept the quick claim deed

WALLSTREETESQ :

yes, contact them first, they may agree to do this, then contact the bank and advise them you will deed over the property to them now,

WALLSTREETESQ :

and your liability has been discharged through a bankruptcy,

WALLSTREETESQ :

Worst case, begin renting the property, and collect rent,

Customer:

What about back taxes, can we be held accountable?

WALLSTREETESQ :

you may be liable, the reason is that the property is in your name, and was not surrendered in bankruptcy,

Customer:

Is there anyway to back up and send the surrender letter to the bank?

Customer:

Dated the date of the bankruptcy.

WALLSTREETESQ :

you can file a motion to repen the bankruptcy and amend your petition to state that you surrender the property,

WALLSTREETESQ :

But it is easier to quit claim the deed to the bank,

Customer:

Should our attorney have done this at the time of our bankruptcy?

WALLSTREETESQ :

yes, he should have listed the property as being surrendered,

Customer:

Thank you for your help it was well worth it!

WALLSTREETESQ :

Also, if you do not pay the common charges, the company

WALLSTREETESQ :

will have to take over the property, so that should be considered as well

WALLSTREETESQ :

If you have any further questions please do not hesitate to ask

WALLSTREETESQ :

If satisfied please press the accept button so we can receive credit

Customer:

We have already been sued to the HOA dues and are currently paying.

WALLSTREETESQ :

if you do not pay they should take the property,

Customer:

They did not.

WALLSTREETESQ :

and you should consider stop paying them, or contacting them now to quit claim the deed to them,

Customer:

Will do. thank you

WALLSTREETESQ
WALLSTREETESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 17,253
Experience: 14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
Verified
WALLSTREETESQ and 87 other Bankruptcy Law Specialists are ready to help you
Ask your own question now
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WALLSTREETESQ
WALLSTREETESQ
WALLSTREETESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 17,253
17,253 Satisfied Customers
Experience: 14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS

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