can a person whose name is on the title of a home , but not the loan , file for bankrupcy?

Asked by Budjrneff, Canyon Country, CA Wed Aug 3, 2011

notice of trustee sale, no modification,they refused our paymenton the last month of our year aggreement so we could go in default

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Emily Knell, Agent, Huntington Beach, CA
Thu Aug 4, 2011
I can get trustee sales postponed while we work with the bank to process a short sale OR if you do have enough equity to break even (some people trying to do a loan mod do have equity---which could be the reason you're getting denied) we can still get the bank to allow time to get your home under contract with a new buyer & close.

I would like to hear your story of why the bank actually refused your last payment under your trial modification terms. Your bank probably had you under their Dual Tracking system where they have you thinking they're going to give you a good permanent modification that makes sense, but they're really also putting you on the track to foreclosure with no real intentions of ever giving you a good loan mod.

Shoot me an email directly so I can talk to you more about it. I have an excellent track record working with homeowners on short sales & I handle short sales successfully within a 300mi radius of where I live. I don't look back on here for new answers after mine.
562-430-3053 c
Realtor Since 1996
Main Street Realtors
Short Sale Expert
1 vote
Eli Givoni-S…, , Boca Raton, FL
Wed Aug 3, 2011
If your name is not on the loan, why would you want to file for bankruptcy? You don't owe the money. The borrower might want to file. Although, the borrower can do a short sale, with your cooperation and keep foreclosure and bankruptcy off his credit. Feel free to give me a call, and I can explain the process.

Eli Givoni, Director
Short Sale Department, LLC
Serving all 50 states

MARS Disclosure for General Commercial Communications
Short Sale Department, LLC is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit.
1 vote
John Arendsen, Agent, Leucadia, CA
Thu Aug 4, 2011
Need a lot more info on this one.
0 votes
Jack Gillis, Agent, Dallas, TX
Thu Aug 4, 2011
You have not provided anywhere near enough information for anyone to properly answer that question. May you file bankruptcy? The short answer, in my opinion, is Yes! However, to what end? Are you trying to stay the foreclosure? Whose name is on the loan? Is that person on the deed as well? The Bankruptcy Code is one of the most complicated areas of the law. I would urge you not to seek advice on a website blog; instead, contact an experienced attorney that specializes in bankruptcy law to answer these very complicated questions.

Jack Gillis, M.B.A., J.D.
Jack Gillis Realty Advisors
Nathan Grace Real Estate, Broker
5619 Dyer Street | Suite 100
Dallas, TX 75206
Cell: 214.718.4910
0 votes
Laura Coffey, Agent, Santa Clarita, CA
Thu Aug 4, 2011
You need to speak with a Bankruptcy attorney as to why you would want to file if it's other than the loan.
0 votes
Sara Mehrpou…, Agent, Los Angeles, CA
Wed Aug 3, 2011
For bankruptcy, you should seek legal advice from an attorney. Also, you should consider a Short Sale as an option. Depending on when the trustee sale date is (how much time you have left), the Realtor may be able to postpone the sale to allow for time on the Short Sale. Feel free to contact me. I also work in Canyon Country area. Good luck.

Sara Mehrpouyan CDPE
Specializing in Short Sale & Foreclosure
Rodeo Realty
Direct: 818-903-2040
Dre License #01712757
0 votes
Bud Zeller, Agent, Folsom, CA
Wed Aug 3, 2011
Pay an attorney their fees and who knows what the result will be?
0 votes
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