Re: Foreclosure after bankruptcy

Posted by NJD on June 24, 2008 at 05:29:33:

In Reply to: Foreclosure after bankruptcy posted by Melanie Jones on June 23, 2008 at 13:40:16:

Presumably, you sought a discharge in bankruptcy for the SBA loan? Though your personal responsibility to repay the debt may have been discharged in bankruptcy, a mortgage lien isn't extinguished and remains with the property.

Is the first mortgage in good standing? Whats owed on the first, and the SBA? What is the home's as-is, fair market value?


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