Do you have any personal liability if the home is foreclosured on?

Attorney answers (3)

1. 

   Paula Sinclair

   Twin Falls Social Security Lawyers

   Contributor Level 20

   2

   Lawyers agree

   Answered January 17, 2013 20:37. If you receied a discharge in your bankruptcy, it almost certainly discharged any personal liability on the mortgage. The lien which remained after the bankruptcy is what is foreclosed.
   
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   This answer is offered as a public service for general information only and may not be relied upon as legal advice.

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2. Licensed in IN

   

   Eric Lewis

   Indianapolis Bankruptcy Attorney

   Contributor Level 17

   Answered January 18, 2013 13:13. If you did not reaffirm the mortgage, your personal liability to pay back the debt is discharged. This leaves the bank with the sole remedy of foreclosure against the realty in what we call "in rem."

   Advice on this forum is for informational purposes only and should never be mistaken as a substitute for legal... moreAdvice on this forum is for informational purposes only and should never be mistaken as a substitute for legal advice. If you are in need of legal advice, you should consult local legal counsel. less

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3. 

   Diane L DrainPro

   Phoenix Foreclosure Attorney

   Contributor Level 14

   

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   Answered January 18, 2013 13:55. Ms. Sinclair is correct so long as you listed the debt(s) in your bankruptcy. If you did not then consider reopening your case and adding the debts. If you were represented by an attorney - talk to them before doing anything.

   This firm is in the business of helping people and companies file for bankruptcy protection. Therefore, the... moreThis firm is in the business of helping people and companies file for bankruptcy protection. Therefore, the bankruptcy code requires that we call our firm a "debt relief agency." This information is provided for general information purposes only and is not intended to be a legal opinion, legal advice or a complete discussion of the related issues. Nor is this advice intended to create a client - attorney relationship. Every individual's factual situation is different and you should seek independent legal advice from an attorney familiar with the laws of your state or locality regarding specific information. less

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