Thursday, November 19, 2020

Free Pass Due to Bankruptcy of Loan Owner?

 

https://www.avvo.com/legal-answers/authorized/our-2nd-mortgage-company-went-bankrupt-and-sold-th-5034729.html?answered=true

 Any bankruptcy lawyer with extensive real estate or trustee experience should be able to answer this question for you, with one or two pieces of correspondence to the last known owner.   And, if  your loan literally did fall through the cracks and there is nobody in charge, potential adversary proceedings to extinguish the lien in bankruptcy court might prove an attractive option for you.   You should therefore get offline and into the office of a lawyer who can actually represent you as soon as possible.    Meanwhile, however, you have some good advice about trying to save up the money that would otherwise go towards the payments, since they also might abruptly be called due someday. 

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