What to do if our bank still hasn’t foreclosed on our home and our bankruptcy has been discharged?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
What to do if our bank still hasn’t foreclosed on our home and our bankruptcy has been discharged?
We filed Chapter 7 bankruptcy in 02/09; discharged in 07/09. We moved out of the house at that point since we weren’t going to keep it. Bank still hasn’t foreclosed on the house. What if anything can we do to speed up the process. At some point we would like to buy another house.
Asked on November 4, 2010 under Bankruptcy Law, Georgia
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
I am not sure that there is anything that you can do to speed up the process. Foreclosures are backed up in their own right and adding those as a result of bankruptcy filings, well, there just is not enough time in a day. I read at one point that it can take up to two years for a bank to foreclose after a bankruptcy is discharged. So the best advice I can offer is to call the bank and find out what their best guesstimate is on the matter. Maybe you can ask about a deed in lieu of foreclosure (where you tun the house over without the need to formally go through the foreclosure procedure)? Remember about the deficiency waiver. Good luck.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.