Discharged a 7 now starting a 13

[helpme2010]

Just wanted to introduce myself to all of you 13's, I just discharged a 7, now I gotta go back to a 13 to delay the auction of my house. This does wonders for the blood pressure, but it sure feels good now that I am filing.

[Pandora]

This may be a stupid question - but.......worth asking / questioning IMO.

If you arent going to keep your house and its been discharged in a 7 - why on earth would you turn around and spend thousands of dollars to file a Ch. 13 just to delay the foreclosure? I could see if you were intending on keeping the house -but it appears that you arent; you're only trying to buy some more time in order to stay there rent free, correct?

???

You also cannot get a discharge for your Ch. 13 - so its really a moot point.

[helpme2010]

This may be a stupid question - but.......worth asking / questioning IMO.

If you arent going to keep your house and its been discharged in a 7 - why on earth would you turn around and spend thousands of dollars to file a Ch. 13 just to delay the foreclosure? I could see if you were intending on keeping the house -but it appears that you arent; you're only trying to buy some more time in order to stay there rent free, correct?

???

You also cannot get a discharge for your Ch. 13 - so its really a moot point.

Pandora, I don't consider any question on this board being stupid, unless of course I'm asking it. ahahahah

The point of the 13 is to buy me several more months before I lose the house. The 13 costs $1,700, so it calculates to much less than half the amount I would have to pay rent elsewhere, so it is profitable. The major reason is to buy me more time while I look for a job. My goal is to find a job first, then rent a new place second. Having a job will make it much easier for me to qualify with a new renter.

My mortgage company surprised me with a notice of trustee sale posted to my door saying they were selling my house in 2 weeks. This was months before most mortgage companies do this.

So I am using this strategy to buy more time.

[basketsbears]

Believe me, I don't know anything at all about this. But, aren't you then "stuck" with the house???

[tyson24]

helpme- Don't feel too bad If the tax thing on my rental property goes the way I think it might next year, I may have to file a 13 next year in order to pay the large tax bill I am going to get as a result of this bk and capital gains. I hope to get lucky but it is really a toss up.

I hope you get what you need to out of your 13 and it buying you time in your house

Good luck with everything!

[HHM]

Be careful of filing a bad faith plan. Personally, I will come out and say it, sounds like a stupid idea to me.

Realize, you won't actually buy that much time. If you don't make the next due mortgage payment; the bank gets a lift stay. At most, you buy yourself 60 days. Frankly, I am surprised you have an attorney willing to file such a frivolous case.

[shark66]

No.

OP is not "stuck" with anything...and is pretty much playing the only ace he has left to buy himself some time...I'd probably be doing the same...not that it means anything...

Consider this: he got discharged in Ch. 7 which will stay on his credit report for quite some time. Apart from paying the attorney to file he's got no other expenses in regards to staying in the house for the next several months if he's got any luck at all.

Eventually, his Ch. 13 will be dismissed for lack of payment, which usually means with no prejudice, and no harm done. Hopefully this will give him enough time to find a job and rent a place...

Good luck to all.

[helpme2010]

No.

OP is not "stuck" with anything...and is pretty much playing the only ace he has left to buy himself some time...I'd probably be doing the same...not that it means anything...

Consider this: he got discharged in Ch. 7 which will stay on his credit report for quite some time. Apart from paying the attorney to file he's got no other expenses in regards to staying in the house for the next several months if he's got any luck at all.

Eventually, his Ch. 13 will be dismissed for lack of payment, which usually means with no prejudice, and no harm done. Hopefully this will give him enough time to find a job and rent a place...

Good luck to all.

Thank you shark. You are correct, I am playing the only ace I have left. I am not doing anything in bad faith. I am dealing with my life and potentially becoming homeless if I don't protect myself. I was given a 2 week notice for sale of my house. I can just take it or step up and fight. I am going to fight.

I tried to work out options with the mortgage company including a short sale, mortgage mod, even just asking for a little more time as this 2 weeks was very short notice. They refused to work with me, so I will now play hard ball. I should get at least 2 1/2 months extra time.

Either way, this is my life and my very survival, I take this very seriously. I am trying as hard as I can, day and night to find a job so I can go rent another place.

[HHM]

Oh please, stop being so melodramatic, you can go rent a place tomorrow.

[OhioFiler]

Why wouldn't you first try filing a motion to stay the foreclosure or sale with the appropriate court? That could buy time for much less than $1,700.

[Pandora]

Pandora, I don't consider any question on this board being stupid, unless of course I'm asking it. ahahahah

The point of the 13 is to buy me several more months before I lose the house. The 13 costs $1,700, so it calculates to much less than half the amount I would have to pay rent elsewhere, so it is profitable. The major reason is to buy me more time while I look for a job. My goal is to find a job first, then rent a new place second. Having a job will make it much easier for me to qualify with a new renter.

My mortgage company surprised me with a notice of trustee sale posted to my door saying they were selling my house in 2 weeks. This was months before most mortgage companies do this.

So I am using this strategy to buy more time.

I understand what your wanting to do, however in order to keep the house, you would probably have to reaffirm it and make payments immediately. You cannot just file Ch. 13 and expect no payments to secureds - it doesnt work that way unfortunately. Your 1st mortgage will be successful in lifting the stay since you arent reaffirming... betcha dollars to donuts the judge allows it to be lifted. Also, as HHM stated, it would be considered a "bad faith" filing. Ch. 13 is meant for those that are intending to keep items for the most part, or...if you're over median.

Save the $1700 and use it for 1st/last months deposit on a rental, you'll be better off for it and wont have 2 bankruptcies showing on your record.

[Pandora]

.. Apart from paying the attorney to file he's got no other expenses in regards to staying in the house for the next several months if he's got any luck at all.

Eventually, his Ch. 13 will be dismissed for lack of payment, ...

.

It's more than just paying the attorney - there's the trustee as well, but more importanly - you actually have to HAVE debts to be repaid to file CH. 13, i.e., reaffirming something secured, back taxes, etc. From the sound of it, there are no debts as they were all wiped out in the Ch. 7 - so what is the point of filing Ch. 13? There isnt one.

It simply makes no sense to file when there isnt any debts to begin with.