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  1. #1
    Join Date
    Sep 2010
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    19,901

    Default Re: Foreclosure Threat - Debt on House Was Discharged in Bankruptcy

    The mortgage discharge just means you aren't responsible for it, it doesn't mean the loan evaporated. The security is still there and the bankruptcy doesn't have any affect on foreclosures other than a temporary stay while things are being sorted out.

    How fast the bank starts foreclosure is really up to them. The foreclosure tends to run 180 days or so at the earliest from the time it is initiated. You can booted out about twenty days after that.

  2. #2
    Join Date
    Jan 2011
    Posts
    4

    Default Re: Foreclosure Threat - Debt on House Was Discharged in Bankruptcy

    I am new to foreclosure and I don't know what to expect.

    About this reaffirmation. I assume that the bank would want me to reaffirm the loan. What does it mean that I did not reaffirm this loan in my bankruptcy, if anything? Before I missed the December payment (and 2 months after the discharge in the bankruptcy) the mortgage holder said the only thing that me not reaffirming the loan does is that it prevents me from logging into their website. I would have thought that it means more than that.

    I was thinking that someone made a mistake in not making me reaffirm the loan (and to be honest, I thought I had reaffirmed). Do they really think that me not being able to log into their website is incentive enough for me to reaffirm the loan? It would be really nice if I didn't get a foreclosure remark on my credit report.

    How will I know that these foreclosure proceedings have started?

    I assume they don't start posting "Forclosure" signs in my front yard until after the 180 days?

    Thanks again...

  3. #3
    Join Date
    Sep 2010
    Posts
    19,901

    Default Re: Foreclosure Threat - Debt on House Was Discharged in Bankruptcy

    Affirmation means that you accept responsibility for the loan. It means they might have other recourse against you beyond foreclosure.

    Discharged or not, reaffirmed or not, they are free to foreclose if you default on the loan.
    Your credit isn't going to be any more trashed than it already is.

  4. #4
    Join Date
    Jan 2011
    Posts
    4

    Default Re: Foreclosure Threat - Debt on House Was Discharged in Bankruptcy

    About the timeline (I want to be sure that I know how long I have to live in the house before the boot).

    I missed my December 1, 2010 payment. I guess the default occured on December 2?

    I missed my January 1, 2011 payment. I received a notice of default letter around January 5, 2011.

    The letter says I can make a payment of about $3500 by Feb 2, 2011 to be back on track.

    Assuming I do not pay by Feb 5, how much time do I have?

    Some sites say that I have as little as 190 days from the date of the first missed payment (Dec 2?).

    It is now January 17, and according to the above, I have roughly 145 days until the 20 day notice to move out.

    I also read someplace else that I have 180 days from the time that the initial forclosure proceedings have started. Were these proceedings started back in December (Dec 1 =the first missed payment) or in the future sometime (forclosure proceedings)? At what point do I have 180 days to move out?

  5. #5
    Join Date
    Sep 2010
    Posts
    19,901

    Default Re: Foreclosure Threat - Debt on House Was Discharged in Bankruptcy

    Here's the best info I can find on the process in your state:
    http://www.atg.wa.gov/uploadedFiles/...etimelines.pdf

    Yes your interpretation seems to be correct.

  6. #6
    Join Date
    Jan 2011
    Posts
    4

    Default Re: Foreclosure Threat - Debt on House Was Discharged in Bankruptcy

    I was sort of afraid of being correct about that.

    Well, if I decide that I have to leave, at least I have at least a few months.

    I wonder if/when they will put a sign in front of my house...


    Thanks again...I will keep everyone informed about my situation.

  7. #7
    Join Date
    Sep 2010
    Posts
    19,901

    Default Re: Foreclosure Threat - Debt on House Was Discharged in Bankruptcy

    They may post you... RCW 61.24.040 has the publication/notification requirements.
    (e) Cause a copy of the notice of sale described in (f) of this subsection to be posted in a conspicuous place on the property, or in lieu of posting, cause a copy of said notice to be served upon any occupant of the property;

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