Can I keep my house that was scheduled for sheriff sale if it was cancelled and the mortgage was part of a Chapter 7 bankruptcy?
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Can I keep my house that was scheduled for sheriff sale if it was cancelled and the mortgage was part of a Chapter 7 bankruptcy?
I had a rental property that I thought was foreclosed on 2 years ago. The lender had obtained a writ of execution but the sale was cancelled and never rescheduled. Additionally I had filed a Chapter 7 and the mortgage was included in the bankruptcy. It was only after I recently received past due tax notices that I came to realize that the house was still in my name. Do I have any legal recourse now to keep the property, being that the debt was discharged and the bank did not foreclose? What is my position and can they still at some point foreclose?
Asked on September 27, 2011 under Real Estate Law, Pennsylvania
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
If you filed a chapter 7 bankruptcy and the loan on your home was a secured loan and the lender submitted a proof of claim to the bankruptcy court as part of its secured claim, you still have an obligation upon the home that you need service and if not, you will end up losing you home in a foreclosure.
In all likelihood, the obligation that you owe the bank for your home is not discharged. To confirm this, you need to speak with your bankruptcy attorney about this and also look review your order of discharge.
You should also contact the lender concerning the loan on your house to discuss payments that may be behind so that hopefully ypu can cure them and be able to keep your home.
Good luck.
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