In 2008 I filed for Ch . 7 had included all debt including the house mortgage Indy Mac Bank . I was discharged in Oct . 2009

Asked over 1 year ago - Woodbury, NJ

House was vacant Aug 2010 and still is . I just pulled my credit and house is showing active and past due . I contacted my lawyer and she says this normal and nothing can be fixed or changed . I have to wait till foreclosure to happen . I want to speed this up asap I want to move on with my life what can I do legal . . . . if anything

Attorney answers (6)

  1. Michael S Schwartzberg

    Contributor Level 8

    4

    Lawyers agree

    Answered . If the house is vacant you may want to ask the bank to take a deed in lieu of foreclosure or try a short sale In certain circumstances you can even rent the house during the foreclosure process.

  2. Steven R. Neuner

    Pro

    Contributor Level 9

    2

    Lawyers agree

    Answered . I agree with the other responses. Unfortunately, the best course of action is usually to continue living in the home until foreclosure. Once the house is vacant more than 30 days, most homeowners insurance policies have an exception for coverage. I would contact the Sheriff to find out when a Sheriff Sale is likely. Note that when lenders get "force placed" insurance, it does not protect you. There are steps you can take to make the lender responsible for maintenance.

    The foregoing answer is for informational and educational purposes, not for purposes of legal representation. This... more
  3. George E Veitengruber II

    Contributor Level 9

    1

    Lawyer agrees

    Answered . Can I ask a question of you? I understand that you appear to have vacated the property 2+ years ago, but would you consider keeping the house if you could get the mortgage under control?

    The lender can take forever to catch up post mortgage and may have lost it in the shuffle between the foreclosure department and the bankruptcy department. Are you certain that they have started the foreclosure process? Do you know how far into the process they are?

    My firm focuses on loan modification and bankruptcy and everything in between. The HAMP programs create realistic mortgage plans for homeowners. If the terms of the agreement don't meet your satisfaction, you can just walk away.

    The above should not be construed as legal advise. You should make an appointment with a qualified attorney in... more
  4. Michael J. Ireland

    Contributor Level 12

    2

    Lawyers agree

    Answered . Generally, it is up to the lender to decide when to foreclose. Too bad you didn't just keep living there and saving the rent!

    However, you may have liability for vacant property (trip and fall or "public nuisance" if drug dealers take it over or burn it down). Often, lenders don't want to foreclose because they do NOT want to be responsible for mowing the lawn, fixing broken windows or personal injury for anyone who comes on the property. They'll just leave you on the hook.

    I have had some success in such lingering situations by recording a quitclaim deed back to the lender. You need to prepare a quitclaim deed on the forms acceptable to the County Recorder (legal description, notarization, etc.) and pay the County Recorder to record it. Usually the total is less than $100.

    LEGALLY a deed is not valid until the grantee accepts it, so from a HYPER-technical point of view, this deed may be INVALID. It is not a perfect solution. However, it has worked a few times for me.

    Good luck.

    If you need further clarity, please email me at MICHAEL@MIRELAND.US Answers to questions are for general... more
  5. Diane L Gruber

    Pro

    Contributor Level 18

    1

    Lawyer agrees

    Answered . There is nothing you can do to force the mortgage holder to foreclose. You MIGHT be able to sign a quitclaim deed over to them and file it with the county recorder's office. But check with a real estate attorney first.

    Be sure to designate "best answer." If you live in Oregon, you may call me for more detailed advice, 503-650-9662.... more
  6. Thomas M. Hensel Jr.

    Pro

    Contributor Level 6

    Answered . Not sure about NJ law, but in MI the county can eventually foreclose based on unpaid property taxes.

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