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I live in Chicago IL area, and had some issues with paying my mortgage over the past 2 & 1/2 years. The original mortgage company ended up selling to another company after I filed chapter 7 bankruptcy. I then received a statement from the new company with the full amount of the mortgage, saying they were the new owners of the debt.

After a few months of never getting another statement from them or anyone, I had to buy a new car. Checking my credit score I noticed something odd: Both mortgage companies' status is listed as Closed Accounts with $0 payments due.

Which brings me to my questions:

1) Am I mortgage-less now?

2) Where is my deed and or title?

3) Did the mortgage companies just write if off as a loss due to the amount left on the home?

4) How do I look into paying the property tax which I still need to get adjusted before the next tax installment?

5) Should I still consider moving?

There haven't been anymore court dates either for a while now. The house was bought at $60k in a area where there are a lot of people either losing their homes or having to sell. I don't want to lose my home if I really don't have to; I hate this stressful situation that took me and my family by surprise.

  • If you filed Chapter 7, your property and mortgage would certainly have been listed in your filing. You should talk to your bankruptcy trustee. – ChrisInEdmonton Jun 4 '17 at 23:17
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    Side question - Should you be borrowing money to buy a car when you can't afford your mortgage? – D Stanley Jun 5 '17 at 15:50
  • Did you reaffirm any debts during your chapter 7? – quid Jun 5 '17 at 19:14
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Go to your local tax assessors office or recorder of deeds. They should be able to tell you who holds the title and give you a copy. In fact, a lot of this information is available online just by looking up your address. I don't know which county you live in, but in Cook County, the web site is here.

PS... Why don't you call the mortgage company and ask what the situation is? Better to know than to live in uncertainty.

  • Because if he calls, that reminds the mortgage company that they're owed money. – mkennedy Jun 5 '17 at 19:19
  • @mkennedy, not if it wasn't reaffirmed in the bankruptcy... – quid Jun 5 '17 at 23:04
  • @quid: That's a really odd result because bankruptcy doesn't prevent secured loans from collecting the property that secures them. – Joshua Apr 9 at 14:17
  • Google reaffirmation agreement. – quid Apr 9 at 14:59

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