Legal Question in Real Estate Law in Ohio

house

my ex and i filed bankruptcy in 2000 the mortgage people went for a money judgement instead of forclosure the house wasn't worth the loan amount well now the mortgage holder is selling the mortgage to collectors but they have never tried to forclose and the judgement lien was discharged so what do i do about the house it was to go to our 2 sons but there is still a mortgage listed by the original lender even though they sold the mortgage


Asked on 6/12/07, 2:23 pm

1 Answer from Attorneys
J. Norman Stark J. Norman Stark , Attorney, Architect

Re: house

Dear Inquirer: Technically, you still own the real propery and are charged with the maintenance of the property. Ownership will transfer upon completion of Sheriff's sale (auction)through foreclosure.

There is a possibility the mortgage holder may be desirous of considering a "short-sale" transaction. Contact an experienced real estate attorney to negotiate this very technical transaction, to protect your bankrutcy discharge and immunity status.

Good luck.

Sincerely, J. Norman Stark, Cleveland, Ohio.

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Answered on 6/13/07, 9:16 am


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