15yrs ago a house forclosed,filed bankruptcy which NEVER went thru(long story)Coming after the $ now,can they?

Question

15 yrs ago..we signed a mortgage for a family member and they defaulted. There were 4 signatures on the mortgage..my hubby and I were 2 of them and his family were the other 2. We ended up filing bankruptcy over this..did all the necessary filings etc..but have just recently found out that this Bankruptcy was NEVER discharged. As we have never gone thru this scenario..we thought the bankruptcy was over. We have in fact had no prob with credit at all over the last few years. We have been contacted by the mortage lender demanded payment in excess of $50,000..can they do this after all these years?? I have all the info needed on the other family members who were involved..should I give them their info and have them go after them?? We never even LIVED at this house, this was done to help out "the family" and plus they also got us for another $50,000..which of course was never paid back. Is the statute of limitations over or how do we proceed from here??? Any help will be appreciated..

Answer 1

If the house defaulted 15 years ago and there was never a judgment (foreclosure is a judgement) then they missed the SOL and can not do anything.

If there was a foreclosure and your bankruptcy was not discharged then yes, they got the debt in before the SOL as a judgement and can try to collect until they take it out of your estate.

Answer 2

Get yourself to a local real estate, bankruptcy attorney for advice, don't come to us.  And do it NOW, as this is a lot of money.  Short Initial consultations are cheap or free.

Answer 3

The statute of limitations has likely expired, but you need to go see an attorney.  They do free consultations!  

Plus, statute of limitations on foreclosures is different for every state....some states don't even allow deficiency judgments after foreclosures.  Here's a simple website so you can check your state.

Answer 4

WOW, first of all who filed the bankruptcy?

I would start there and find out who dropped the ball.  You paid somebody to file the necessary paperwork.  How did you not know it wasnt discharged??? and follow up on it.

Answer 5

You need an attorney.