- Feb 7, 2010
Another victim of the 2008 housing crisis and extenuating situation caused me to no longer be able to afford my home. I bought in 2006, 80/20 no money down for 305k, within 6 months the property was worth about 245k. I was underwater from the start! My husband died and I was no longer able to afford the house. I tried the loan modification, short sale, deed in lieu, tried to get the 2nd to settle so I could sell and avoid any issues but it never happened. I had to walk away, by 2010 the home was valued at 185k. there was no recovering for me in this house. SO I filed chapter 7 in 2014 and released in 2015. From the time I walked away and the foreclosure it was over 6 years (foreclosure is not on my credit report.) It foreclosed last year (june I think). Okay, to my question, yesterday I got a settlement offer from the 2nd mortgage and gives me a balance I owe (57k and some options for repayment in a very short amount of time. ) Didnt' I discharge that in bankruptcy? my credit report states 0 owed and it also says paid. I didn't know that was still following me around. The property was purchased by someone in an auction soon after that. (how did that property sell without both liens being paid in full? I was thinking I was all done with all this and moving on, saving some money, rebuilding my credit and wanting desperately to purchase a new home someday. I'm not sure where to go from here. I did call my bankruptcy lawyer for a sit down but thought someone on here may know what I'm up against? thanks for any insight. Seterus was the 1st and SLS the 2nd.