Bankruptcy Forum

relief of stay, when to get out?

FloridaGuy
12-08-2008, 02:58 PM
Hi all,

As mentioned in previous threads we are chapter 7 (now asset) and are surrendering our home. Throughout the forum we see many posters saying stay in the home as long as possible, etc. etc. It may take the lender a long time to forclose, etc. in some cases more than a year.

I got a note today from our attorney stating countrywide had requested a relief of stay, we have 20 days to respond to the motion, and our county is taking 45ish days. So we should plan on being out of the house in about 60 days.

Can anyone shed light to what actually happens (just concerning the home process) at this point?

AngelinaCatHub
12-08-2008, 03:03 PM
You asked for an opinion? You got one, get out when the Sheriff gives you 30 days notice to vacate. Other's are right, you can drag this on longer than you think. 'Hub

BassBoy
12-09-2008, 05:17 AM
Now that the relief of stay is granted, the lender can move forward with the foreclosure. If your home will be sold by the Sheriff, then keep watch on the Sheriff's site to see what date your home is being sold. That's around the time you need to be prepared to move. My opinion is to be moving out on or about the date of the Sheriff's Sale.