Expert: Terry Leeders - 7/25/2009

Question
I have recently been contacted by an asset management firm wanting me to sell them our house we had in KS that was part of our bankruptcy. The bankruptcy has been discharged, the house sold at a sheriffs' sale a couple weeks ago. The mgmt firm is saying that we can sell them the house, the bank won't care because we've already been discharged and that the sheriffs' sale has a grace period where we can sell to someone else. He's telling us that it's some glitch in the KS bankruptcy law and we will not be held liable for the remainder of the home because it's already been discharged and the bank has their money. If you could shed some light on this, it would be greatly appreciated!
Thank you for your help!

Answer
Depending on your state laws, the property is yours to sell (if you even want to) before the foreclosure is finalized.  If there really is a grace period, then it may be possible to sell.  The debt is discharged regardless.  If you want to, talk to your attorney to see if this is a viable option for you.