Legal Question in Bankruptcy in Massachusetts

So in 2006 my husband and I bought a home, that started our nightmare. We were told once we bought the home we would be able to get a loan to help with repairs, not the case so we were now in a house that had almost no windows in the winter which resulted in gas bills that we could not keep up with, on top of a 1st and 2nd mortgage eventually in 2010 we were facing foreclosure we did call the mortgage co and were told we would be better off leaving and letting them take the house, we did they never did and now the city is coming after us for abandoned property issues we don't know what to do my husband is disabled vet and I work but with 6 kids at home we are struggling just to keep up. Help we don't know what to do


Asked on 1/07/14, 10:45 am

1 Answer from Attorneys
David Baker Law Office of David Baker

As I understand it, you moved out of the house in 2010 and it has been vacant since then. I also understand that you did not file a bankruptcy case, so now the City is creating problems for you. Unfortunately, this is an increasingly common problem. Fortunately, a bankruptcy case can help you. In chapter 13, you can "surrender" the property to the mortgage creditor and provide in your chapter 13 plan that the property will "vest" in the creditor when the chapter 13 plan is confirmed. This is a new technique that I pioneered a couple of years ago. It does mean that you have to be able to make some payments to a trustee for at least three years, but getting the house off your back is probably worth it. Contact me for more information about this.

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Answered on 1/07/14, 10:51 am


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