We filed for BK on 4/8/09 and are giving up our house. Before this, though, our house was already in foreclosure with a sale date of 5/19/09. How does the stay of creditors affect the original sale date, if at all? Also, where would I look to see if the sale date has changed. Just trying to prolong moving as long as possible to save money.
-
-
Filing BK will temporarily stop the sale in foreclosure. The minute you filed BK the Trustee took control of all you affairs. The bank or mortgage company that was doing the foreclosure/sale cannot do anything until after the 341 meeting and then they have to apply to the court to have "their stay" lifted so they can continue your foreclosure. Other wise they have to wait approx 90 days or longer from the day you filed and after you get your discharge before they can do anything with the foreclosure.
So from the day you filed you have approx 3 months before the sale can take place, unless they get the "stay" lifted. Then approx 2 months. Besides you will be given a notice from the Court or new owner to vacate the premises, and normally you will have 10 days.
Keep in touch, let us know how its all going.Minny
"It's amazing the paths that our feet sometimes follow in life".
My suggestions are from "personal experience" and research only. Do not consider this as legal advice. Each bankruptcy case is different.
Comment