REALLY IN NEED OF ADVICE

AKRON, OHIO
we were due on dec 15th to refi are 5 yr balloon mortgage. ran into road blocks. found a lien on house that should of been included on bankrupsty 3 yrs ago. on paper it is off...but in court still shows on...so that stopped the refi approval. house is only worth about $60,000 give or take...we owe $86,000. we live in ohio. we also are behind on property tax payments by $4800.00. (we are on a contract aggreement though to pay monthly on it and have been successful in doing so). the problem is we dont want to be here anymore. the neighborhood is horrible, no schools, the credit union wants us to pay $86,000 + a 4800.00 loan (for property tax pay off). we know we are paying way too much, have negative equity, etc. we asked if we can surrender house with deed in lieu...credit union said no because we have a lien. we cant afford this anymore. we are getting no where with payments. The credit union is asking this of us...if we want to keep house..they will send forclosure letter, we write that we want to foreclose, make payments for 2 yrs, then "change our mind", then refi..also in meantime get are liens paid off. i dont understand this. it makes no sense! we cannot afford a lawyer and want out of this darn house asap. what about defiency judgements? can they? if we cant pay mortgage, how the heck we going afford, rent, defeincy judgement, food, etc. alsoi just want to add...if borrower owes $86,000.00, house appraises at $60,000.00, and in sheriff sale only goes for $50,000.00 lets say...how come a court can make you pay $36,000.00 after all is done and said? i dont understand all this and i dont know what the best advice is. please help asap!

BTW...the lien on house that should have been cleared through bankruptsy was for $5,000.00. we know we have to pay property taxes and get the lien straightened out with court...but what about defeincy on mortgage?

[found a lien on house that should of been included on bankrupsty 3]


What do you mean...what happened?

my husband had a debtor that was included on bankrupsty. a $10,000 debt. they were paid $5,000 through an asset my husband had then my husband was released from the remainder through chapter 7. (btw we filed bankrupsty due to this debtor garnishing his wages 1 yr prior which i guess is same time they put a lien on the house). well we found on paper through courts they still have the lien on the house and we have to go to court for it to get it removed which will take months as well.

The court can conduct an expedited emergency hearing if need be.