usecaution
New Member
I recently filed chapter 7 without the aid of an attorney. I have a morgage on a 135,000 home. The Morgage Company chose to file a "relief of stay" in an effort to continue with foreclosure.
Also, I have not made a Morgage payment in a year and I just recieved (last week) notification to vacate in 60 days. My question is
A. Can the bank sue me for the remaining balance on the house after they sell it. ( if the note is 135,000 and the house sells for 110,000 can the bank sue me for 25,000?)
B. Can the bank sue me for the 12 months of payment missed or any portion thereof.
If either is the case it may be more benefical to keep the house under a chapter 13 bankruptcy. What are your thoughts.
My interest rate is 8.875% any thoughts on getting a better rate with bad credit?
Also, I have not made a Morgage payment in a year and I just recieved (last week) notification to vacate in 60 days. My question is
A. Can the bank sue me for the remaining balance on the house after they sell it. ( if the note is 135,000 and the house sells for 110,000 can the bank sue me for 25,000?)
B. Can the bank sue me for the 12 months of payment missed or any portion thereof.
If either is the case it may be more benefical to keep the house under a chapter 13 bankruptcy. What are your thoughts.
My interest rate is 8.875% any thoughts on getting a better rate with bad credit?