Wellsfargo in Missouri with Chapter 13 Motion for relief from stay .. How much time?

[rx330]

So I filed ch. 13 to save my house and made payments with the trustee but now fell 2 months behind on my mortgage with Wellsfargo.

Today I got a letter they are going forward with the 'motion for relief from automatic stay' with the bankruptcy court on 10/21/11 and the objection must be filed by 10/14/11

So this tell me in 2-3 weeks from today without an objection (i guess I cant) they will get the ok to go forward with the foreclosure.

At that time does it mean they now have to file for foreclosure again? I'm guessing they will try to expedite it and after that is approved I'll get a sherriff's out date for at least 30 days so is it safe to assume between 2-4 weeks + 30day notice weeks for this process?

What I'm trying to get at is trying to figure out how much time I have.

Before the foreclosure hits, is it still possible to do a short-sale? They entertained this before when I tried all options to prevent foreclosure but had to go the ch. 13 route because I ran out of time to do a short-sale.

[etechjc]

WF did this to me when I filed also. I was also a couple months behind. My lawyer told me there was nothing that could be done about it. However, My trustee actually filed an objection and the motion got shot down. My lawyer said that he has seen this alot lately, Although he was a bit surprised it happened with us since we not only had no equity in the house we were underwater. I think the key point here is not to panic. Even if they are ranted a relief, It has been taking them somewhere around 6 months to year to actually go ahead with foreclosure and that's just the foreclosure. I stopped paying around Oct 2010 and still haven't gotten a notice of foreclosure and I am in non-jud state, so its easy for them.

In theory I could pay up the back due and take my house back, But Why would I want to do that for that money pit.

Oops, I see you are in MO also.

[Billssuck]

I'm in Missouri too but not with WF. I stopped paying the mortgage April 2010 and I haven't even gotten the automatic stay lifted yet nor has the bank even tried to get it. I did a little research one night and found out that in Missouri they usually don't like to commence a foreclosure while you are still in an active BK. So I figure once my ch13 is finished that things may get rolling then. BTW, have you modified your ch13 yet to surrender the house and to let the trustee know your intentions? That's really important in that you don't want your ch13 case to get dismissed because you didn't follow the plan by paying the mortgage on time. Just my two cents....good luck!

[despritfreya]

So I filed ch. 13 to save my house and made payments with the trustee but now fell 2 months behind on my mortgage with Wellsfargo. Today I got a letter they are going forward with the 'motion for relief from automatic stay' with the bankruptcy court on 10/21/11 and the objection must be filed by 10/14/11. . . So this tell me in 2-3 weeks from today without an objection (i guess I cant) they will get the ok to go forward with the foreclosure. . .

You are in a Chapter 13. The question is, do you still want to save the home and, can you afford to begin normal monthly payments as of, say December, 2011? If so, you can file a simple response that admits the 2 to 3 month default (November being the 3rd month) and ask that you be allowed to enter into a catch up agreement with the lender for the missing payments.

Typically these type of agreements require you to "cure" the post petition default over a 6 month period by making a payment in addition to the regular monthly payment each month for 6 months. The "cure" amount will be the 3 payment, 3 late fees and the lender's legal fees added up and divided by 6. The agreement will also provide that if you do not stick to it the stay will be lifted and all bets are off.

If you think you can still afford the home try the "catch up" approach I mention. If you know you are wasting your time and money just surrender the property. . . forget about a short sale as such is a waste of time.

Des.