I filed Banckruptcy in 2005. I had a mortgage that was included in the bankruptcy and never signed a reaffirmation. The mortgage shows on my credit report as included in bankruptcy. I am now trying to get a new mortgage and the mortgage company wants to know why the property is still showing in my name with the county...I still live in the home and am making good fait payment. Why is this still showing from the county that I own the home? Also if I chose to walk away from this mortgage will a foreclosure show in my credit report again never signed the reaffirmation on this loan.
2 Answers from Attorneys
The house is probably still showing in your name because it may have never sold in the sheriff's sale. The property remains in your name until the sheriff sells it to a bona fide purchaser. You may want to check with the county auditor to see if property taxes are still accruing. Any taxes levied after your bankruptcy filing date may be your responsibility.
If the bank is receiving payments, it may have decided the payment arrangement is better than selling the property in foreclosure. This is sometimes referred to as a "ride through."
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