time on ch 13

[joepepper2005]

my house is up for sheriff sale on june 13th

I have a few offers for short sale but I might try to save it

how much time do I have to file and when would the 1st payment be due

can anybody tell me lasted I can go to push the 1st payment as far as I can, my mort payments are due on the 15th of the month

also I found a site that does ch 13 and 7s online and gaurantees it, they say they have never had one kicked back, its only 129.00

[joepepper2005]

my house is up for sheriff sale on june 13th

I have a few offers for short sale but I might try to save it

how much time do I have to file and when would the 1st payment be due

can anybody tell me the latest I can go to push the 1st payment as far as I can, my mort payments are due on the 15th of the month

also I found a site that does ch 13 and 7s online and gaurantees it, they say they have never had one kicked back, its only 129.00

the property is in new jersey

[tofargone]

You basically have up until an hour before the Sherrifs sale to get your paperwork in, but I wouldn't wait for the last second. If you are looking at a sale on the 13th of June I would get on it now.

As for the Online Attorney, I am not familiar with any, plus I am always leary when I can't talk to someone face to face. Most consults with attorneys are free and most will roll your payment ( or most of it ) in your plan. I would look at talking to a couple to at least make sure you have something to campare against.

Also note, the $129 ( which seems way low )would not cover the other fees you most likely have to pay up front such as filing fees.


Good luck, let us know which way you go.

[joepepper2005]

Its 169.00 on a site that says they do the work, its not me filling out the paper work, and then the filing fees ????


if my regular payment was due june 15th, and I file on june 5th or so, does that mean that the june 15th payment is moved to july, how long does it take once you give the sheriff the papers?

[joepepper2005]

also what happens if you miss a payment and how long does it take for a new sale date?

what if you sell the house before finishing the ch13, maybe after 3 payments

[tofargone]

What you will do is take all of the arrears payments and put them into the plan. If you file June 5th and have a payment June 15th, you should be able to roll the 15th payment into the plan. As for the fees you are looking at

$239 Filling
$39 Misc Fee
( This is off memory so I may be off)

Total cost to file is based on your area for an attorney. I paid $1800 for everything including fees. I can say it was money well spent, I gave the Att $800 up front and the rest is in my plan. Some att will roll almost all in your plan.

As far as selling down the road you can, but you need to get the courts permission.

If you miss a payment the mortgage company will file for a relief of stay, you will have a certain amount ( not sure how much ) of time to cure. If the get the relief they can start the foreclosure process.

You can also surrender the home in you case, but thats a decision you will need to make.

Good luck.

[SinkingFast]

There's a couple of things you might want to do before you file BK.

Consult around with local attnys. 3-4 if you can. See what they have to say about your case. Generally Consults are free and you can learn a lot. Plus, you'll know how much attnys in your area charge for a Ch 13.

You also need to consider why you're behind on your mortgage. What put you in that position. If it's a temporary thing,......... Injury, illness, job loss, etc,........ That's one thing. If you're paying your regular bills and your life expenses are too much, then maybe the house is driving your debt.

If the house is the reason you're behind on your bills,.......... If you could rent and meet all your obligations,........... You seriously need to consider whether keeping the house is even in your best interests.

[joepepper2005]

renting would be much easier, the only thing is the timing, this is a resort town and in june its tuff to get a year round rental, in sept its easier, also I can put the place up for sale or maybe get the bank to agree to short sale if I had more time, its either forclosure or bankrupcty on the credit, I don't know which one is worse but I think i'm to take the risk and try for the bnkr, I can afford at least 4 months and if the work comes in then I can hold out for a year and sell it and see what happens

I have to talk to a lawyer and see what happens if I declare bnkr and then sell the house or if the bank will consider a short sale after bankruptcy

I am going to contact a few lawyers for the free consult and get as much info as I can

Thanks

[joepepper2005]

what if I file for ch13 and it stops the forclosure, then the mortgage company objects and the judge agrees and the 13 doesn't get approved

does the sale go right away or is there some time

if the sale is on june 13th and I file say on june 10th and the bank objects and it holds, how much time would I then have and how much of a delay would this cause

also, if I file and they don't approve it does this show on the credit?

another question, if I file and they say no and I have someone willing to do a short sale then will the trustee force the mortgage company to act on the short sale before the sale date?

[SinkingFast]

I can afford at least 4 months and if the work comes in then I can hold out for a year and sell it and see what happens


Thanks

If you're in an unstable work situation, it's not likely you'd get a Ch 13 Plan Confirmed anyway. In order for a Trustee to Confirm a Ch 13 Payment Plan, the Trustee has to be reasonably certain you have the means to fund the payments. From your comment, sounds like work is not reliable at this time which could be a problem for you filing BK.

You really need to Consult with several attnys and see what they have to say.

As far as doing a Short Sale,............ That's not simple either. In order to get a Short Sale, you have to "apply" with the Lender for approval. Basically, it's like applying for the mortgage, only in reverse. Then the Lender has to agree to accept the Short Sale before you can actually proceed with selling the property.

You really need to chat with some attnys. Spend some time researching and learning. Right now, you're working on no information trying to make this decision. It's like you're trying to jump from the frying pan into the fire.