How likely is it to be sued for fraud by a lender
We filed bankruptcy and included a newly refinanced home we recieved our discharge and the home loan is reported as ''discharged Chpt 7'' on our credit reports we vacated the home and its up for aution in a week. Given the declining prices it is not worth what it was appraised for last year and we are concerned the lender might come back and try to sue for fraud even though it was a no income no asset loan. My income stopped almost immediatly after the refi and we could not keep up with the payments. With all that is in the news we are wondering how aggressive WAMU is going to be on defaulted properties
Re: How likely is it to be sued for fraud by a lender
The debt is discharged. If WAMU felt it had a claim for fraud, it had 60 days from the date of your first meet of creditors to file a fraud claim in the bankruptcy proceedings. The cannot pursue this action any further. There only remedy is the foreclosure.
Re: How likely is it to be sued for fraud by a lender
The debt is discharged. If WAMU felt it had a claim for fraud, it had 60 days from the date of your first meet of creditors to file a fraud claim in the bankruptcy proceedings. The cannot pursue this action any further. There only remedy is the foreclosure.
