I represent the buyer who's desperately trying to close on a short sale THIS WEEK - doc's are at escrow, all the paperwork is in order we just need either a court order of abandonment or court approval from the bankruptcy court to sell the home.
The seller's lawyer who I talked with says that what I need I should get from BofA - and Title says I need to get it from the Attorney?
HELP - where do I go from here? Does anyone have a contact @ BofA for this?
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Is this true even if the home was never in foreclosure?
Yes, it has to do with the Bankruptcy. The only way you don't need permission from the Trustee is if your homeowner excluded it from the Bankruptcy. If you look at his Bankruptcy papers and the mortgage does not show then you don't need permission but if its in there you need permission.
Patti Berube said:Is this true even if the home was never in foreclosure?
Actually the home that my buyer is trying to purchase was a rental - not her primary residence, and as soon as she filed for Chapter 7, the bank file a "relief from stay"????
Esther M. Kelly said:Yes, it has to do with the Bankruptcy. The only way you don't need permission from the Trustee is if your homeowner excluded it from the Bankruptcy. If you look at his Bankruptcy papers and the mortgage does not show then you don't need permission but if its in there you need permission.
Patti Berube said:Is this true even if the home was never in foreclosure?
That means they wanted to pull it out of the Bankruptcy so they could move to foreclose on it. That requires the bank to go to court to get a court order allowing them to foreclose on the house. You need to talk with the Bankruptcy Attorney. Is there a Listing agent here?
Patti Berube said:Actually the home that my buyer is trying to purchase was a rental - not her primary residence, and as soon as she filed for Chapter 7, the bank file a "relief from stay"????
Esther M. Kelly said:Yes, it has to do with the Bankruptcy. The only way you don't need permission from the Trustee is if your homeowner excluded it from the Bankruptcy. If you look at his Bankruptcy papers and the mortgage does not show then you don't need permission but if its in there you need permission.
Patti Berube said:Is this true even if the home was never in foreclosure?
Anyone can get a PACER account to view legal court documents that are public record. When title did a statement of information they must see the BK against the seller and need trustee permission to sell the property or evidence that it wasn't part of the BK. The attorneys most likely won't help as they've already been paid and consider their work done. Is the BK already "closed"? If it is closed then you should be able to obtain a copy of the closure and title should have access to obtain that documentation. If it isn't closed or abandoned then you will need more time. Not a simple task.
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