Foreclosure before BK. When do I have to leave?

[lostinmich]

I want to know when I'm going to have to be out of my house. At the end of October my house was sold at a sheriff's sale. I understand that I have 6 months to redeem the property. In December I filed ch 7 bankruptcy. This put a stay on all actions. The mortgage company has filed a motion to remove the stay. I'm assuming that this will be granted since I am giving up the property in the bankruptcy. My questions are as follows:

1) The sheriff's sale was in Oct 2006. My 6 month redemption period is up at the end of April. What is the process after that? Eviction?

2) How long does eviction take? Will I have ample notification to vacate?

3) Does the filing of the BK stop the redemption period? Meaning, since I have stated that I am going to give up the property will the mortgage company be able to accelerate the redemption after the BK is discharged?

BTW, I am in Michigan.

Signed,

Lost In Mich

[HHM]

Usually, you need to be out of the house fairly soon after the sale date. The redemption period is merely a right to buy back the house, not a license to continue living in it. But Michigan is one of the rare exceptions that allows the mortgagor (you) the continued right or possession during the redemption period.

But in any event, you will have notification of the eviction. Just realize that eviction is a much shorter process than foreclosure. The total process of eviction takes about 1 month to complete in Michigan.

I suppose the bank could argue that since you are giving up the home in BK, that that act constitutes abandonment and therefore tolls the redemption period, thus allowing the bank to head straight to eviction. But I don't know the answer for sure.

[so_far_in_debt]

I'm in the same boat

lostinmich my house is being sold at a sherrifs sale tomorrow.
My notice stated that I have a 6 month redemption period but I am pretty upset this evening because someone told me that I had to provide written notice to the court prior to the sale that the property was not abandoned.
Did you have to do this? The notice doesn't state this has to be done and you would think it would if that was the case.

Does anyone know if this is true?

There is no way I can be out in 30 days.