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In August 2009, I filed Chapter 7 Bankruptcy. The attorney…

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In August 2009, I filed...
In August 2009, I filed Chapter 7 Bankruptcy. The attorney that represented me gave me the impression that I would probably be able to keep my house and auto. I signed forms in his office saying that I would continue to make payments and live up to the terms of the contracts for both house and auto. The attorney never told me that I had lost my house even though I had informed him three different times that we had not heard back from the mortgage holder (Bank of America). I don't remember anything being said in Bankruptcy Court that indicated that I had lost my house. The first that I knew that I had lost the house was approximately two weeks after Bankruptcy Court when I received paperwork showing the Bankruptcy proceedings.

When I showed this to the attorney, all he said was that "Well, they (Bank of America) can't put you out of the house as long as you make your payments on time.". I have done this since August 2009.

My question is this. I have owned this property for 33 years. It has been refinanced several times. At no time (with any mortage company or bank) has there been late payments, nor has the property been in arrears, and I signed the form saying that I would continue to live up to the terms of the mortgage and make timely payments. How can Bank of America put the house in Bankruptcy? Bank of America nor any other company, bank or individual has ever lost one penny on this property. How is it legal for them to put the house in Bankruptcy?

Lawrence T. Denton XXXXX
Ozark, Al 36360
1-XXX-XXX-XXXX [email protected]
Submitted: 6 years ago.Category: Real Estate Law
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Answered in 7 minutes by:
2/17/2012
Real Estate Lawyer: C.Fortunato, Lawyer replied 6 years ago
C.Fortunato
C.Fortunato, Lawyer
Category: Real Estate Law
Satisfied Customers: 8,023
Experience: Expert in Landlord/Tenant Law. Licensed Real Estate Broker.
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Hi JACustomer,

What did you mean by the lender (BoA) putting your home into Bankruptcy? Did you mean they are foreclosing the home? If yes, at what stage is the foreclosure process?

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Customer reply replied 6 years ago
I don't know how the house got in bankruptcy. I did not know it was included until I received the proceedings paperwork about 2 weeks after Bankruptcy Court. No, it is not being forclosed. It is listed as being in bankruptcy in the bankruptcy proceedings
Real Estate Lawyer: C.Fortunato, Lawyer replied 6 years ago

According to the Bankruptcy Code, when you file a Bankruptcy, you have to list all your creditors - including the creditors you are going to continue to pay. This means that even though you continued to pay your mortgage, that mortgage had to be listed on the Bankruptcy papers.

It does not mean that you cannot continue to pay your mortgage, or that you will lose your house. As your attorney explained to you, you cannot lose your house if you continue to pay the mortgage.

 

I think this is what you wanted to know. If not, please let me know.
Thank you.

 

 

C.Fortunato
C.Fortunato, Lawyer
Category: Real Estate Law
Satisfied Customers: 8,023
Experience: Expert in Landlord/Tenant Law. Licensed Real Estate Broker.
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C.Fortunato and 87 other Real Estate Law Specialists are ready to help you
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Customer reply replied 6 years ago
No, that does not answer the question. The auto (which we heard back from) is listed normally on my credit report with it showing I am making payments and will eventually add to my credit report. However, the house is just listed as being in bankruptcy with no payments showing. Also, every bill I receive from Bank of America has a statement that the house in in bankruptcy and that i can't be held responsible for continuing making payments. I can just leave without being held liable for the remaining payments
Real Estate Lawyer: C.Fortunato, Lawyer replied 6 years ago

Was the auto loan included in your Bankruptcy papers?

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Customer reply replied 6 years ago
You have not answered my question
Real Estate Lawyer: C.Fortunato, Lawyer replied 6 years ago

To answer your question, I need to know if the car loan was included in your Bankrutpcy petition.

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Customer reply replied 6 years ago
Yes, but ALLy accepted the reaffirmation paperwork whereas Bank of America we never heard from them
Real Estate Lawyer: C.Fortunato, Lawyer replied 6 years ago

If you never heard from BoA regarding a re-affirmation agreement, they may not have received it, or it may not have been properly processed. If a re-affirmation agreement was filed with the Bankruptcy court while your Bankrutpcy was in progress, you should be able to send a copy to BoA, who will then have to remove your mortgage from the Bankruptcy.

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Customer reply replied 6 years ago

Yes, but ALLy accepted the reaffirmation paperwork whereas Bank of America we never heard from them

 

(ADDED)

tHE QUESTION STILL IS HOW CAN BofA PUT THE HOUSE IN BANKRUPTCY WHEN I HAVE NEVER BEEN LATE WITH A PAYMENT, NEVER BEEN IN ARREARS, I REAFFIRMED THAT I WOULD CONTINUE TO HONOR THE TERMS OF THE MORTGAGE AND THEY HAVE NEVER LOST ANY MONEY ON THE HOUSE.

 

(added)

 

tHANKS, THAT PRETTY WELL ANSWERED MY QUESTION. i WILL GO BACK TO THE ATTORNEY THAT HANDLED THE CASE. i HAVE ASKED HIM TWICE TO SEE THE REAFFIRMATION PAPER THAT i SIGNED AND HE HAS GIVEN ME AN UNSIGNED COPY BOTH TIMES. iT APPEARS THAT HE HAS MADE A MISTAKE IN HANDLING THIS MATTER

Real Estate Lawyer: C.Fortunato, Lawyer replied 6 years ago
Yes - if BoA had received the re-affirmation agreement, the mortgage would have been in the same position as the car loan - payments would be reported on your credit report, etc.
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