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Mortgage-bank granted relief of aut stay after bk discharged-moot

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    Mortgage-bank granted relief of aut stay after bk discharged-moot

    My ch7 bk was discharged 10-9-2012, I was not given any reaffirm documents from Chase, Chase file motion for relief from automatic stay 10-7-2012. I went to the hearing which they didn't show for but their document claim that I was 2 months behind, I advise the judge I have proof of payments for the 2012 year which I began the loan modification with them. The case was continued, I know went back and the new judge ruled the case-MOOT and said I am no longer apart of the court, she gave no further explanation. Does anyone know I Chase will foreclose and will that go on my credit report ?

    #2
    Sometime between the 2 hearings (or even before) your case was closed (this happened after you got your discharge). Once closed the home (and all issues relating to it) were "removed" from the bankruptcy estate. As a result the Judge no longer had authority (jurisdiction) to rule on the Motion - the issues raised in the motion became moot. It is now between you and the lender and, if you are unable to modify the loan and/or bring payments current, eventually the lender will foreclose as allowed by state law.

    Des.

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      #3
      Des already explained the reason why your motion was considered "moot" before the court; your case was already closed and the bankruptcy estate was closed as well.

      Originally posted by 1rumraisin View Post
      Does anyone know I Chase will foreclose and will that go on my credit report ?
      No one can tell you this. It is entirely up to Chase to proceed with the foreclosure process. They can literally just let your home sit there for years, or can become aggressive and start the foreclosure process. This will not go on your credit report since the "loan" was discharged in the bankruptcy. Chase is now allowed to proceed with what is known as an "in rem" action. That just means that they can foreclose upon the property, but can take no action in order to collect any money from you.

      You should be preparing to move. However, you do not need to move until you are actually foreclosed upon. Most will stay as long as possible and SAVE every single penny from not paying the mortgage. It is highly likely that you'll need those savings for deposits/rent in the new place.

      Best of luck to you.
      Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
      Status: (Auto) Discharged and Closed! 5/10
      Visit My BKForum Blog: justbroke's Blog

      Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

      Comment


        #4
        Thank you very much for explaining this to me, I'm completely in disbelief of the outcome of Chase action, especially because I have been paying the mortgage. I have been reviewing the advice left that it is not smart to reaffirm a mortgage once you have filed Ch.7 because of the hold banks will have on you, one side of me wants to say side with this advice, but the other side wanted to hold on to the dream of raising my kids in a home.

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          #5
          Just broke...Thank you also,if I don't pay mortgage starting this month Jan2013 would I know be within my rights and start to save until the notice 2) is there still "Cash For Keys" in California and would I be eligible since I had the Ch7 discharge granted 3) Since Chase received the Relief From Automatic stay why we're they not ordered to return all payments received from filing date of June ?.... This seems unfair that after they gave me the Loan Mod and I was making the payments but had to file for Bk because another creditor started to garnish a portion of my income and this was the only way to stop it, that they want to take the townhouse back.

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            #6
            I was offered Cash for Keys by BOA by a letter, I felt it was too much hoop to jump thru to get, and I was better off staying in house until the end to save more money than they would offer. That was over a year ago, so I saved alot more than the 3000 cash for keys they were offering. They could offer it after they forclosure also. It is all up to the bank forclosing. Your bank may not proceed to forclose right away, or may forclose.
            You can stop paying anytime, as you are discharged. Before we stopped paying we asked ourself several questions. Is the house worth what we owe? Is it cheaper than rent? Our answer no . so we decided to let it go and stopped paying 32 months ago. Every case is different, as every state. Your credit is trashed right now after a bankruptcy, so do not worry about that, it will rebuilt with time.
            chpt 7 ,5-2009

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