#1 mortgage company did not reaffirm before bankruptcy discharged. During the end of bankruptcy process new company contacts owner saying they bought mortgage
& all correspondence is to them. Bankruptcy schedule show unsecured portion is $0. Have refinanced with #2 company inspite of not knowing home went into bankruptcy.
Was it legal for company #1 to sell unaffirmed loan from bankruptcy to #2
Was it legal for #2 to contact owner to refinance property that was discharged in bankruptcy??
State of illinois
I strongly suggest that you consult with an experienced IL mortgage foreclosure defense and bankruptcy attorney. Your question is beyond the scope of this forum. THIS IS NOT LEGAL ADVICE! YOU NEED TO SPEAK TO AN ATTORNEY WHO IS LICENSED IN YOUR STATE FOR LEGAL ADVICE. This is merely suggestions for you to think about in discussing your situation with the local attorney.
If you found this Answer helpful, please mark it as "Best Answer" Please be advised that the answer above is only general in nature cannot be construed as legal advice, given that not enough facts are known. It is your responsibility to retain a lawyer to analyze the facts specific to your particular situation in order to give you specific advice. Specific answers will require cognizance of all pertinent facts about your case. Any answers offered on Avvo are of a general nature only, and are not meant to create an attorney-client relationship.
Filing Chapter 7 and not reaffirming the mortgage debt does not remove its lien.
It can sell its lien.
If you do not maintain your current monthly mortgage payments the mortgagee and its assignee can foreclosure.
Most Consumer Bankruptcy lawyer advises clients not to reaffirm a mortgage.
Years licensed, work experience, educationLegal community recognition
Peer endorsements, associations, awardsLegal thought leadership
Publications, speaking engagementsDiscipline