Foreclosure in Algonac>Question Details

agrestaagain, Home Owner in Algonac, MI

My house was recently sold through a Sheriff Sale. What am I still liable for and if I release the keys how does that affect me?

Asked by agrestaagain, Algonac, MI Tue Oct 2, 2012

I was working with a short sale real estate company and was informed after the fact that the house was purchased by a third part at a short sale. The attorney for the bank gave me the phone number of the agent that purchased it. He informed me I was not liable for any remaining balance because I filed bankruptcy BUT the bankruptcy DID NOT include the house. He also suggested I they would not have access for six months but that if I had no interest in buying the house back I could receive a small amount to sign a release stating I would not come after the bank for the sale and hand over the keys.

I want to know what direction to take on both these accounts and what liability could occur from each.

Help the community by answering this question:


I would contact a real estate attorney. Then a CPA and your bankruptcy lawyer to find out what, if anything, you're going to be liable for.
0 votes Thank Flag Link Wed Oct 3, 2012
Thank you, my bankruptcy attorney confirmed I was protected by the bankruptcy.
Flag Wed Oct 10, 2012
Is your home still currently listed with a short sale real estate company? If it is, you should talk to your agent and he can explain your options. If not, give me a call and I'll be happy to explain your options. If you have legal questions you need to speak with a Real Estate attorney.

Good Luck,

Karen Paytas, GRI, CMS
Real Living Kee Realty
0 votes Thank Flag Link Tue Oct 2, 2012
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