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I filled chapter 7 and discharged a mortgage with Wells

I filled chapter 7...

I filled chapter 7 and discharged a mortgage with Wells Fargo in 2009. I did not reaffirm the mortgage but I continued making payments for these eight years. I requested a payoff from Wells Fargo and they gave me a payoff which was $127,000 higher then the payoff. Since the Leon started in 2006, should the principal reduce the Leon amount by every principal payment.

Lawyer's Assistant: What state are you in? And has anything been officially filed?

TN

Lawyer's Assistant: Has anything been filed in civil court? If so, what?

No

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

Wells Fargo says the increase was interest and fees, but these should have been discharged?

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Answered in 48 minutes by:
12/1/2017
DrakeLAW
DrakeLAW, Attorney
Category: Bankruptcy Law
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Hi, my name is ***** ***** I look forward to helping you, please give me a moment to review and possibly research answers to your question.

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The payments you were making did not go directly to principal. They would have been applied as normal loan payments.

You are discharged from the obligation yes, but the lien remains attached to the property. So if you want a payoff in order to sell or pay off the property to retain the property then that is what you were given.

Whether the interest and everything was accurately calculated and payments applied is another story entirely.

Please kindly rate the question so I may be credited. Thank you. You can still ask follow-up questions.

DrakeLAW
DrakeLAW, Attorney
Category: Bankruptcy Law
Satisfied Customers: 1,038
Experience: Attorney at Drake Law Firm PLC
Verified
DrakeLAW and 87 other Bankruptcy Law Specialists are ready to help you
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Customer reply replied 8 months ago
Why does principal not reduce the Lein amount like any normal payments?
Phone call session started

The payments reduce the principal and the interest in the normal way any mortgage payments do.

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Customer reply replied 8 months ago

My phone number is **** and I am available.now.

Customer reply replied 8 months ago

My number is *****

Ok, please give me 10 minutes.

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