[CLBS] Statute of Limitations

[Robin Long]

The debtors individual liability is discharged, but assuming the bank has a valid security interest they can foreclosure on their lien. They would have to pay off the first lien holder. 

Sent from my iPhone

> On Apr 17, 2015, at 2:26 PM, Bruce M. Perry <bperry at integralawgroup.com> wrote:
> 
> 
> 
> Dear Listmates,
> 
> 
> 
> One of the debts that was discharged in a Chapter 7 was a home equity loan.
> It has now been over 5 years since the maturity date of the loan and no
> payments have been made during that time.  Is the lender barred from
> bringing a foreclosure action.  If so, since the debt was discharged, can
> the lien be extinguished?  Would it take a quiet title action?  Thanks for
> your help.
> 
> 
> 
> Bruce M. Perry
> 
> 
> 
> Integra Law Group 
> 
> 950 W. Bannock, 11th Floor
> PO Box 1870
> Boise, ID 83701
> 
> 
> T/   208.386.9000
> C/   208.867.9000
> F/   208.386.9900
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> 
> <http://www.integralawgroup.com/> integralawgroup.com
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