stay of relief.........

[ronaldk]

Just checked pacer and there it was, the bank is asking for stay of relief, court is next Tuesday,at 10a.m, boy they don't give u much time do they, so what happens now? how long till we are out? And what will happen in court? Any and all advice will be appreciated, I thought we were finished with all the hurdles.
thanks
nancy

[tofargone]

What state are you in?, do you have a lawyer. Also why are they trying to get the stay lifted ( missed payments.....)

The more info you can give the more someone can probably chime in for you

[ronaldk]

We are in Illinois, and yes we do have an attorney, but he wasn't in the office yet, and we do hope he will call us back. I guess they are lifting the stay, because last months mortgage payment didn't clear the bank, twice. And this months hasn't been made yet, though we were going to redeem the check this Friday for April and pay the May mortgage. I just don't want to be out on the street. We are in a town house and pay assestment fee's, do we pay Junes? I just don't know what to do. what happens in court? I hope someone can tell us how long we have, it is all so confuseing. not to mention scary.
thanks
nancy

[BassBoy]

I looked through your posts and I thought you had said you did not want to give up the house. Is this true or have you changed your mind and decided to surrender since you did not reaffirm the mortgage?

[ronaldk]

No, haven't changed our mind, we do want to keep the house but if they are foreclosing how can we? We are in a chapter 7 and it is due to be discharged on june 12th, we overcame all of the trustee paper work, and didn't bounce the check on purpose, it happens, to be straight we have a really crappy mortgage company and i am sure if i mentioned the name, a few would know it, they seem to move fast. I still don't know what will happen in court, do you? Do we both need to be there, i start a new job tomorrow, and now I'll need a day off all ready. can anyone help????? Oh, they never asked us to reafirm, so maybe they were planning this all along,do we need aour attorney to appear with us? I think it is a good idea.
Thanks
nancy

[BassBoy]

Don't panic. The mortgage company is requesting to lift the stay because you are late and they do not know what you're intentions are. Have you tried to contact the BK department for the lender? You can not just call customer service because they will not talk to you. You can explain what happened and make promise to bring the payments current and that could help you out.

What will happen at the hearing is, if you do not speak, the bank will get the relief of stay granted by default. If you decide to show up and contest the relief of stay and can state why, then you could win and the stay would remain in place.

This leads me to my next question is, do you plan to make up the missed payment(s) and bring the mortgage currrent?

[ronaldk]

Thank you so much for talking to me, as I am panicing, we do plan on bringing the mortgage to date, I wasn't aware that we could talk to the bank, while in bankruptcy. That is a thought. We have never missed a payment in all the years we have been with them, think they would give you a bit of lead way, wouldn't you. Guess not. We will go to court for a fact, do we need to ok talking to the bank with our attorney? he certainly isn't breaking any speed limits calling us back, infact he didn't even know about this till we called him, is that unusual? And if we do catch up with the bank, will that stop them ever coming after us, as long as the payments are made? or will it just hold them off, I know I have a lot of questions, and I really appreciate you taking the time to help us out. Oh, should I expect the sheriff at my door anytime now?
thanks
nancy

[tofargone]

If you make the payments and they accept them they can't pursue anything. I would call your attorney and then if he agrees call the bank. Unless you have an ungodly amount of equity in your house they would be nuts not to accept payments to get current.

As long as you can get caught up and make the payments I don't think you have anything to worry about.

You very possibly could get them to drop their petition also


Good luck

[BKOnce]

Yep, money talks...

[BassBoy]

LOL......don't worry about the Sheriff. Even if you had decided to surrender the house you could be in the home for 12 to 18 months in a judicial foreclosure state (which I believe IL is).

Most lenders have a BK department, and yes, you should be able to talk with them. My wife's auto loan was discharged, but we kept the car and continued the payments (ride through.....old law) and she has contacted them from time to time and they are very helpful. We had a big expense arise and they allowed her to make a partial payment. Anyways, if you make up the payments, the lender will not come after you. They are more interested in getting your monthly payments as opposed to getting your house and going through the expense and loss of foreclosing. Who is the lender?

Your attorney more than likely will not know about documents filed until he receives them. He may or may not check PACER.

[tofargone]

Just remember your mortgage company can not due anything to you until a judge allows it. So the Sherrif is not going to come to your door. If you have a plan in place to get caught up I would not doubt even if the creditor objects and wants to be a real pain in the butt, the judge can ( and probably ) will allow it.

You filled bankruptcy for protection and you hired an attorney to take care of the details. Let them work and you should be fine.

Let us know what happens

[ronaldk]

NO sheriff, good deal! I will have my husband read all of your wonderful replies when he is home for dinner, and see what we can work out, he is off tomorrow, and I start my new job, so he will have time to maybe get ahold of the bank and see if they are willing to work something out, oh our mortgage is held by Saxon mortgage, I haven't heard much good about them, any idea when a forcloser shows up on your credit report? Or will it just be included in the bankruptcy? Again my very humble thanks, you've helped out more then you know, I'll keep you updated.
thanks
nancy

[lrprn]

...so he will have time to maybe get ahold of the bank and see if they are willing to work something out,...

Nancy, you need to talk to your lawyer first before contacting the bank yourselves. You don't want to accidentally open yourselves up for problems later. Since you are in bankruptcy, it's best to let your lawyer work with your bank on your behalf or get your lawyer's ok and advice on how to work with the bank yourselves ahead of time.

Since none of us are bankruptcy lawyers, we don't know the fine points of the bankruptcy law and the customs of the bankruptcy court and trustees in your area. Also your lawyer may have dealt with your mortgage company before so may already know how to work a good deal with them.

It's just too easy for you or your husband to accidentally say something or promise something during the bank call that could complicate your Ch 7 case unnecessarily if you call the bank without getting legal advice first. That's why you are paying your lawyer for, so make him/her earn their money!

[brokeinmichigan]

We had a hearing last week, after Chase had filed a MTLS (Motion to Lift Stay). I was VERY nervous. But, I showed up at the scheduled time. My attorney was there. During a 10 minute break in the courtroom, our atty called me over to show my checkbook (with carbon copies) to the atty for CHASE. The CHASE atty asked, "Are you current?". I answered, "yes" and showed him the carbons. He said, "Great, thanks...have a nice day". That was it. Next day on PACER showed case dismissed.

Piece of cake.

Get caught up on your payment. It'll likely be fine IF you're caught up by the hearing date.

Good luck!

Hoping for brighter skies ahead...

[tofargone]

Like BKonce said


" Money talks "