Legal Question in Real Estate Law in Ohio
We live in Ohio. Our Chapter 7 was discharged in November of 2007. Our primary primary home was not reaffirmed but we have been making regular payments until a few months ago. We are about 3 months behind. My Father co-signed for our mortgage and I am worried about the potential risks for him if we allow the bank to foreclose. CitiMortgage insists he is not on the loan but I had them send me the note and he is listed on it. It has been explained that we will not suffer further consiquence if we leave our current home, however, I am worried about a definiency judgement against my Father. He is not too concerned with the hit his credit would take but worried about his assests. We prefer to leave the property if at all possible. Our bankruptcy attorney is not returning our phone calls.....PLEASE HELP!!!
1 Answer from Attorneys
There are several things you can do. You should talk to a HUD certified housing counselor about your situation. These counselors work for free and have knowledge about all the latest federal mortgage assistance programs, such as the one announced last week. You can check with your local bar association or the Ohio State Bar Association about volunteer attorneys who are willing to help people in foreclosure. Don't assume that Citi is giving you the best advise. Their staff is working for the bank and may not have your best interests at heart. You can, after talking with an attorney, negotiate a deed in lieu of foreclosure (giving the house back) where Citi agrees there is no deficiency judgment. But get EVERYTHING in writing before making a final deal. And you can and should consult with a different attorney if your prior bankruptcy counsel is not communicating with you. Your father should probably have separate counsel as his interest and yours are different.
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