So I have a client who filed chapter 7, well it was discharged in 7/11. Last fall he had to leave his contract job for a job out of state. Turns out with his new job he is making very good money. In the meantime we started a short sale on his house (FHA). Now the bank is asking for updated bank statements and he is worried about disclosing all of his financial income/savings.
Have any of you ran into a situation like this where your client has money in savings but didnt disclose it to the lender? This is more than 10K
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His income no longer matters, as the BK precludes the lender from demanding a deficiency or promissory note.
Not if he lied on the BK petition