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Can the bankruptcy trustee try to shortsale your house before the stay has been lifted instead of letting the bank go through the foreclosure process?
Wiki User
∙ 14y ago
Yes, but this is very rare. A Chapter 7 bankruptcy trustee will generally not seek to sell real property if the mortgage and other liens exceed the value. The Trustee's job is to liquidate assets for the benefit of unsecured creditors. If a Chapter 7 trustee were to sell a house that is upside-down, only the secured lien holder would realize anything from the proceeds, the trustee and unsecured creditors would get nothing. It would be an exercise in futility
However, some aggressive Chapter 7 trustees have been known to try to force a short sale and/or stall a foreclosure in order to negotiate some sort of payment for the estate.
Wiki User
∙ 14y ago
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What does passiveness?
Freely letting go of a situation instead of acting visibly.
Can you refile for bankruptcy as an individual after dismissing a joint petition?
Possibly. If there were no creditors complaining, (Motion for Relief from stay) then you should have no problems. Note though that you may have issues getting the first bankruptcy dismissed. Also, you may be better off letting the bankruptcy continue as a joint peition just to save the headache of refiling. Debts are discharged either way.
How long is the process for foreclosure?
This process, for us at least, took awhile. My father got the foreclosure letter in the summer of 03, and because of the courts they moved the dates back and then back again, and we finally got foreclosed on the NEXT summer, June of 04. It depends how busy the courts are, I suppose. You will probably get letter after letter letting you know a date, then maybe it will be that date, maybe you will get another letter like we did pushing the foreclosure date off.
Should you sue a title company for not paying your mortgage balance at closing which caused your house to go into foreclosure?
Notice should have been given to the homeowner by the mortgageholder letting them know that the balance on the mortgage had not been paid. At that point the title company could have been contacted and the matter should have been cleared up before the mortgage holder could finalize foreclosure proceedings. Therefore, I do not believe that the title company could have caused a mortgage foreclosure.
How does a homeowner who does NOT want to avoid foreclosure get lender to start foreclosure before delinquent?
Foreclosure is a legal process that can cost the lender tens of thousands of dollars, so they will not be filing foreclosure against you until they absolutely have to.No matter what your situation is, you do want to avoid foreclosure! Even if you don't want to keep your home, there are better ways to go about it than letting the bank foreclose on you.Just so you understand, foreclosure is not a process that just allows you to walk away. It will ruin your credit for years, and cost quite a bit of money. In most cases, you will end up owing your lender for all the fees and the remainder of your mortgage, after your home is sold at sheriff's sale. If you no longer want the property, and would like for the lender to take it back; consider a Deed-in-lieu of Foreclosure. This is an agreement to deed the property to the lender. When you speak to a CPA, the lender or a housing counselor, be sure to ask about the tax and credit implications of doing so.
How can accepting others help change the world?
by letting them be them, instead of fighting them and hating them. message me! we could talk about this topic! go peace!
Who was primarily responsible for restricting the power of political machines?
The Voter. By calling a duck a duck instead of letting the rich run the country.
When will the medias impact on public opinion be weakest?
When we start thinking for ourselves and research the truth instead of letting someone else do our thinking.
Beatrix Potter devoted herself instead to?
Beatrix Potter was a famous author. She was the author of Peter Rabbit among other books. She devoted herself to her work instead of letting her grief take over.
Did US drop two nuclear bombs to japan?
Yes, US had to to end the war instead of letting it drag out at least another year.
Which decision voided the Missouri Compromise and let territories decide on the issue of slavery themselves instead of letting Congress do so?
compromise of 1850
What is the present progressive of let?
The present progressive a word for an on-going action in the present.Examples:I am letting...You are letting...He (she/it) is letting...We are letting...They are letting...
