I filed chapter 7 in 2010 and was in the process of purchasing a home. I was told that my name remains on the title which put me in a situation where now I cannot. my attorney has stated that he is trying to work it out, but I am currently in escrow and time is running out, what can I do to resolve this?
I'm not quite sure what you're asking here, but let me try to give you a couple of ideas to get you pointed in the right direction. Chapter 7 does not, without something further, change names on title to the property that you own when you file the case. (Sometimes property gets sold, which would obviously change the title, but without that, title doesn't change.) Chapter 7 also does not eliminate reporting of events that actually happened, such as a foreclosure or deed in lieu, which can impose time restrictions on obtaining certain types of mortgages. I hope that information is helpful, and I'm glad to hear that you're represented by an attorney. Best of luck to you.
This is general information, based on limited facts, and does not constitute legal advice or the forming of an attorney-client relationship. If you want legal advice for your particular situation, you should contact a local attorney who can counsel you regarding your particular situation. Mr. Waddell is a bankruptcy attorney who helps people file bankruptcy and is designated as a debt relief agent under federal law.
At least in Massachusetts, you remain on the title until the bank actually forecloses. Just signing and( or filing) a deed to the lender is insufficient unless the lender is willing to accept same.
Has this lender advised that would accept a deed in lieu?
If so I would think that almost any attorney can advise you not and you woulld not 2010 bankruptcy attorney
A deed in lieu of foreclosure is not a magic wand that fixes your financial problems. Neither is a DIL part of a bankruptcy. A DIL requires the lender be willing to accept and sign off on the deed. Without the lender's active agreement, there is no DIL. The other option to a DIL is a short sale or foreclosure.
I'm not 100% clear on your question. More information is needed to give you useful advice. It sounds like escrow on the 2010 home purchase was completed but you did not take possession of the home and title is still vested in your name. A deed in lieu of foreclosure is a way to get the property out of your name, but only if the lender is agreeable. This is something you should be helped with by a RE lawyer.
You are not my client and I am not your attorney. This advice is given in the spirit of the AVVO platform and is based on general legal principles. You become a client when you enter into a formal retainer agreement with me.
No. Based on facts stated, it is not attorney responsibility to file DIL. This is yours and bank responsibility.
Possibly. It is possible your name remains on title. This suggests the DIL not filed and transaction not completed. your responsibility to clean this up. You may hire counsel to do this for you.
Consult BK counsel.
A DIL would be filed with the county recorder if the bank accepts it, not the bankruptcy, if that is what you are asking. A chapter 7 does not require a DIL, and therefore would not be part of the chapter 7. If it was your intent to DIL your home to the bank when you filed your chapter 7, you would still need to have had the bank accept it: it is not automatic.
Why wouldn't a bank accept a DIL: other junior debts on the property, HOA charges, problems with the property... the list goes on and on. If the bank accepts a DIL, the bank accept the property subject to all other liens and subject to the issues on the property,. Banks frequently refuse DIL.
This response is not intended as legal advice. You may need to consult your own attorney to obtain a more specific answer.
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