Q: We filed bankruptcy and listed a second mortgage in the case.We were not aware the Loan company placed a Lie
We sold the home & required to pay the loan the Lien at closing. Was this legal or should it have been dismissed per bankruptcy?
A: A lien survives Bankruptcy whether it is listed in the schedules or not. Because the lien attaches to real estate, it follows the real estate until it is sastisfied. Any personal liability you may have had for the loan that led to the lien ( Debt) generally would have been discharged in a bankruptcy filing but again the lien against the property would have survived. This can be complicated so speak with your bankruptcy lawyer if you have more questions. Good luck!
Lawyers, want to be a Justia Connect Pro too? Learn more ›
- California
- (510) 841-6164
- View Profile
- Answered
A:
There is no sufficient information to answer this question. Did you have equity in the house? Did an attorney prepare the papers? Did you or your attorney remember to eliminate the second mortgage from the list of debtors?
There are many variables and yes the last question was there enough equity for the second mortgage to take money from the sale of the house? Was it done within 12 months of the bankruptcy? Did you report the sale to the Bankruptcy Trustee?
Best of luck next time.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
