Mortgage discharged, now walking away.... What's next?????

Asked by Summer.fancher, Minster, OH Wed Mar 20, 2013

I need some advice!! We did a bankruptcy and it was discharged in jan 2012. This included our mortgage. We did not reaffirm and continued to make payments. My husband lost his job and we decided to walk away from the home. We stopped making payments in oct 2012. We just moved out of the property this week. I never received a notice of foreclosure or auction. What do I need to do now? Should I contact Bank of America to let them know the house is vacant now? How will I know if/when house is foreclosed or sold? I canceled my insurance also.

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Wed Mar 20, 2013
Hi Summer
you may want to contact a real estate attorney or your BK attorney to get advice on this, since it is a legal matter.

I would think they would instruct you to send a registered letter to the lender notifying them that you walked away, just so you have a paper trail of pertinent dates (your BK discharge is the other important date).

If the home was included in the bankrupcty without being reaffirmed then my guess is you are protected from recourse, but I'm no attorney.

Best of luck!
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Tim Moore, Agent, Kitty Hawk, NC
Wed Mar 20, 2013
I guess it would be nice if you told them. When they get around to starting the foreclosure process they will send mail to the last address they have for you and nail a foreclosure notice on the property. They will advertise the auction in the newspapers. This could take months to get to that point, they don't happen fast. Since Ohio is a recourse state the bank can come after you for the money they lost in the deal, it would be to your best interest if you took as good of care of the house so they can get more for it when they sell it, so they have less to come after you for later. I would try to offer cash for keys and not try to piss off the bank anymore than needed.
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