Foreclosure and Bankruptcy
This is a discussion on Foreclosure and Bankruptcy within the Mortgages, Refinancing, Foreclosure forum, part of the Buying & Selling Property category; My mother was just discharged from Chapter 7 bankruptcy 60 days ago in Alabama, she reafirmed her mortgage. There is ...
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May 7th, 2008, 06:36 PM
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Foreclosure and Bankruptcy
My mother was just discharged from Chapter 7 bankruptcy 60 days ago in Alabama, she reafirmed her mortgage. There is still a judgement lien on the property for $300,000, a mortgage of $82,000, a second mortgage of $14,000. According to her taxes the property is worth $200,000. Can we force the bank to foreclose on her house and myself and my sister buy the house at action for the mortgage price of $82,000 and have the $300,000 judgement lien wiped off? Will the bankruptcy trusty have any power to stop the foreclosure?
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