Motion for relief from automatic stay

[SteveInColorado]

Hi everybody- new guy here. My wife and I filed just before the October deadline, and haven't done anything since. We filed on our own using a preparation website. Thursday is our trustee meeting, so any helpful advice would be appreciated, but I have one specific question. We just received a packet containing our mortgage company's motion for relief from automatic stay on our old house. We moved from Texas to Colorado in a hurry because we thought we were going to make enough money to get rid of our debt and get somewhere. We had tried selling the house a couple years ago with no luck, so went straight to the "We Buy Ugly Houses" type places. They weren't able to find anybody to take it off our hands, the business deal fell through, and we still had all our debt plus moving expenses, plus rental house deposit, etc.
So is this motion standard procedure? It states that they have this right because once the "legal" 10% of expected expenses is deducted from the value of the house, it will be worth less than we owe. "Can't get blood out of a turnip" comes to mind, but I'd just as soon they didn't try .

Thanks for any help you can give me,

Steve.

[StaciMM]

Since you have already moved out, the motion is a technicality. They can't start the process to reclaim it & resell it without the stay being lifted. Any deficiency balance that you might owe should be included in your BK.

We surrendered a vehicle-made arrangements to leave it at the dealership. They filed a motion to lift the stay. I panicked at first, but in reading it, it included comments about how that would give them the right to sell it, and that if they sold for above the amount owed the extra would be turned over to the trustee. (Yeah right! We owed alot more than it was worth!)