My parents filed for Chapter 7 B. in Utah in January. Their home was set to be auctioned in Feb. Their 341 meeting is Wednesday but the bank is now asking the court to lift the stay, they have until Monday to appeal. Their attorney told them that there was no use appealing it or doing anything because they have no case. But from what we could find (on the internet), it seems like that might be a way of slowing things down.
I know that with a chapter 7, you have no protection against the foreclosure but their attorney is also saying that the foreclosure process will start all over...which is not what I have found in my research. It seems like it just picks up where it was once they lift the stay. Does anyone know anything about that?
At this point staying in their home is out of the question but they'd like as much time as possible and we need some sort of an idea of a timeline...any help out there from those who've filed ch. 7 and were also in the midst of foreclosure....also do they try to file something to slow down the attempt to lift the stay?
I know that with a chapter 7, you have no protection against the foreclosure but their attorney is also saying that the foreclosure process will start all over...which is not what I have found in my research. It seems like it just picks up where it was once they lift the stay. Does anyone know anything about that?
At this point staying in their home is out of the question but they'd like as much time as possible and we need some sort of an idea of a timeline...any help out there from those who've filed ch. 7 and were also in the midst of foreclosure....also do they try to file something to slow down the attempt to lift the stay?