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Bank wont take property back...

This is a topic titled Bank wont take property back... made in the Mortgage Talk section, belongs to our Mortgage Chat category; Please bare with me because this situation is very confusing but I really need some help. I live in the state of PA and the property I'm discussing also ...








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Old May 30th, 2008, 03:58 AM   #1
Mike
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Registered: Apr 2008
Posts: 1,497
Default Bank wont take property back...

Please bare with me because this situation is very confusing but I really need some help. I live in the state of PA and the property I'm discussing also resides in PA. Back in 2004 me and my wife filed for a chapter 7 bankruptcy in which we surrendered the property back to the bank. But at the same time we were going through our bankruptcy our mortgage company had filed for bankruptcy themselves. The loan was then transferred to a company named Ocwen who is based out of Florida. They know that they can't come after us for the debt because of the bankruptcy but they refuse to foreclose and have the title transferred to them. They are also not willing to release the lien unless we decide to pay the old loan off. I also know that they had sent us a cancellation of debt tax form in the mail meaning they were using the loan cancellation as a tax write-off. Are they not required to either take the home or release the lien since, according to them, the debt no longer exists? I now have a tax lien showing on my credit from the year 2006 which I am not legally responsable for. I contacted the county tax office who told me that they won't remove it because the title is still in my name. Is there anything I can do here? I'm not trying to cheat anyone out of anything. I would either want them to have the title transferred to their name or release the lien so that I can sell the property for the amount of the backed taxes. I don't want to make any money out of the deal I just want this to be resolved once and for all. Any advice would be greatly appreciated.
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