hrvst

abandoning property

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We filed bankruptcy in 6/2011.  When we listed our creditors, we listed our lender for our Mortgage as one of our debts.  Our attorney advised us not to sign any reaffirmation agreements of the mortgage in case we should fall upon hard times financially again.  We were never approached by our lender about reaffirming our loan.   We have continued to make our mortgage payment since the bk was discharged in 10/2011 without fail.  We were even trying to refinance our mortgage with the current mortgage company using the HARP program.   Well, the current mortgage company is dragging their feet, and since then we have found a different home we want to buy.  Can we walk away from the property that we filed bankruptcy on without any repercussions from the lender after paying on the home for the last 4 years after the bk was discharged?    And, after our bk was discharged, the lender at the time, sold the loan to another mortgage company.  Is that legal?  Could someone please advise on these two questions?

Thank you.

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23 minutes ago, hrvst said:

And, after our bk was discharged, the lender at the time, sold the loan to another mortgage company.  Is that legal?

Yes it is legal.  

23 minutes ago, hrvst said:

Can we walk away from the property that we filed bankruptcy on without any repercussions from the lender after paying on the home for the last 4 years after the bk was discharged?

You really need to ask your BK attorney.  Of course all of that is assuming that the underwriters will approve another loan.

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You did not reaffirm.  You have no liability as it relates to paying the mortgage should you "walk away".  If you have a HOA you must continue to pay the HOA until the property is foreclosed or otherwise out of your name.  Lastly, depending upon state and local laws/ordinances, you may need to keep the property in "good repair"  untill the property is foreclosed or otherwise out of your name.

Des.

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