I didn't know the property statue until I purchase my current property in Dec 2016. It was up for tax sale and the bank bail it out (May 2018) I try to sell it and the bank quoted $170,000 over the original loan of $125,000. So I went out in July 2018, fixed up the property and now rented it out since Sept. Brought the property up to livable conditions. Two months ago the Lawyer office contacted me about weather or not I have interest in the property. I refuse to just sign what they want me to sign. This Saturday we were served paper informing us that we are being sued for the principal sum of the loan at 7%, plus fees and others. I just want to have the bank honor the current tenants lease and accept the property with no credit report, public recording or anything that will impact mines or my wife credit. All of this occurred because we sought legal help and took the advice of our lawyer without him telling the full story about how abandoning a property works.
You have a mess. You need to contact a bankruptcy attorney who can assess your financial situation and determine what I Teresa, if any, you have in the property.
