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Bankruptcy Trustee Vs. Mortgage-Holder (lender)

Discuss the legalities of Bankruptcy Law

Bankruptcy Trustee Vs. Mortgage-Holder (lender)

Postby Viho » Wed Jul 02, 2014 8:56 pm

Our issue requires bankruptcy within the state-of: Florida<br />
I'm dealing with a individual bankruptcy, Section 7, having a foreclosed home. The trustee has requested the financial institution to change my mortgage loan. The financial institution has declined to and also the home continues to be outlined for bank purchase. May the financial institution decline or do they officially need to recognize the trusteeis purchases?
Viho
 
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Bankruptcy Trustee Vs. Mortgage Holder (bank)

Postby Gorrie » Thu Jul 17, 2014 9:34 am

The Trustee didn't "purchase" the financial institution to complete something as he or she doesn't have expert to do this. Perhaps the Judge "recommended" the lender use you. A bk court judge, particularly within the framework of the Section 7, doesn't have expert to need something outside the limits of what's permitted in a bk. The judge may refuse a Movement for Respite From Stay (that will be what I believe has occurred) when the bank hasn't provided the correct paperwork. <br />
I'd be thinking about understanding precisely what the "Purchase" released from the Judge says. If you're able to, estimate it in an answer below - but be sure you omit any private information such as for instance title and situation number.<br />
Des.
Gorrie
 
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