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How can I remove a lien from my property after bankruptcy?

How can I remove a lien from my property after bankruptcy?

Q: Can lenders see bankruptcy after 10 years?

Yes, lenders can see a bankruptcy on your credit report for up to 10 years. This information can influence their decision to extend credit. However, as time passes, its impact on your credit score may lessen, especially if you maintain good credit behavior afterward.

Q: Can lenders see old bankruptcies?

Yes, lenders can see old bankruptcies on your credit report for up to 10 years. This history may affect their lending decisions. However, as time goes by, the influence of the bankruptcy on your creditworthiness may decrease, particularly if you have established a positive credit history since then.

Full question:

I claimed bankruptcy over 10 years ago and I kept my home and paid the mortgage, I had a second and third mortgage that now I am pay ing the thiird, the second lien holder went out of business and I had a attorney trying to find out where the debt went to, when he found out where the debt went to, they said they did not have me listed.What do I do to get that lien removed off my property?Thank you,

Category: Debts and Credit
Subcategory: Lending
Date: 04/07/2025
State: Rhode Island

Answer:

To remove a mortgage lien from your property, you need to obtain a mortgage satisfaction from the lender or a court order. If you believe you no longer owe this debt, you can send a written request for a release of the mortgage as it appears on your title.

According to Rhode Island law, a mortgage can be discharged by an entry acknowledging satisfaction, either on the mortgage itself or in the land evidence records, signed by the mortgagee or their representative (R.I. Gen. Laws § 34-26-3). If the mortgagee does not discharge the mortgage within ten days after your request and payment of reasonable charges, they may be liable for damages, including attorney's fees and penalties for noncompliance (R.I. Gen. Laws § 34-26-5).

If the mortgagee is a regulated institution, you can report noncompliance to the Department of Business Regulation, which can direct them to pay penalties and reimburse attorney's fees. If the mortgagee is not regulated, you can request the contact information for the relevant regulatory agency.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

Does bankruptcy clear a 2nd mortgage?

Bankruptcy can eliminate personal liability for a second mortgage, but it may not remove the lien from your property. If the second mortgage was not reaffirmed during bankruptcy, you may not owe the debt, but the lien can still exist. To remove it, you may need to negotiate with the lender or obtain a court order, especially if the lender is unresponsive. Always consult with a bankruptcy attorney for specific advice related to your situation.

Can I file bankruptcy and keep my house that is paid off?

Yes, you can file for bankruptcy and keep a house that is fully paid off. In Chapter 7 bankruptcy, your home is considered an exempt asset, meaning it won't be sold to pay creditors. However, if there are liens on the property, those may still need to be addressed separately. Always consult with a bankruptcy attorney to understand how your specific situation may affect your property.

Can creditors see bankruptcy after 10 years?

Yes, creditors can see a bankruptcy filing for up to 10 years after it is discharged. This information is typically available on your credit report. While it may impact your creditworthiness, it does not necessarily prevent you from obtaining credit in the future. Lenders may consider other factors in addition to your bankruptcy history.

Can lenders see bankruptcy after 10 years?

Can lenders see old bankruptcies?

How far back does bankruptcy look at finances?

Bankruptcy generally looks at your financial history for the past 6 months to 2 years, depending on the type of bankruptcy filed. However, the bankruptcy itself remains on your credit report for up to 10 years. It’s important to provide accurate information about your finances during the bankruptcy process to ensure compliance with the law.