Notice of Breach/Order to Lift Stay

[Lesa13]

Hi All -

This is NOT a surprise to me but now that it has arrived, I have very mixed feelings. I am in a 13 (almost done- yay!) and moved out of the home I was specifically trying to save with the 13 in April 2006. FINALLY they have filed a notice of default, which I just received today. I have 10 days (not sure if that is 10 BUSINESS days or 10 regular days - also they filed this on Friday 10/5 which was not a day the court's did electronic filing so, in effect, it was not really filed until today, Tuesday, 10/9) to pay up or they will file a "Notice of Breach and Order to Lift Stay." My understanding is that once that is filed, the ball is offically rolling and the foreclosure is imminent.

My question is, once that is filed with the court, how long does it take for the "courtyard steps" sale to happen? My attorney (worthless) originally told me that "it would be around 60 days". Not sure though. I still have some stuff, including a car I am storing, at the old house, so want to make sure I am out completely far ahead of the sale.

I am in Missouri.

Thanks for any help.

[lrprn]

My question is, once that is filed with the court, how long does it take for the "courtyard steps" sale to happen? ... I am in Missouri.

Here's a link that explains what typically happens in a MO foreclosure, Lesa - http://www.foreclosures.com/www/page...2.asp?state=MO

Since MO is not a judicial foreclosure state where your lender has to go to court to do the foreclosure, that makes things go faster. In this case, your lawyer was right - it looks like the average time you'll have before you have to leave the house is about 60 days.

[SinkingFast]

Missouri Foreclosures move pretty quick.

After we missed our 2nd payment, we got a Notice of Default and Acceleration. Meaning "Pay Up or Else". We tried to work with our Lender. Haggling back and forth bought us some time. But by the time we missed our 4th payment, the Foreclosure train was rolling.

The Lender has to get a Trustee to handle the Foreclosure. Generally a law firm. The Foreclosure Trustee has to notify you via Certified Mail. Twice I think, if I remember correctly. The Lender has to advertise the property for sale in local publications for a month prior to the actual sale.

From the time the Lender gets a Trustee for the sale, and notices have been mailed to you,........... You're looking at 5-6 weeks. Start to finish.

That's if the Lender actually does move to Foreclose. If the Lender is carrying a lot of REO property on the balance sheet right now, it may be a while before they move on your house.

[Lesa13]

Thanks

Good info - that's pretty much what I thought but wasn't sure if I would get the notice of publication of the trustee's sale, etc. It has taken them ONLY 1.5 years to foreclose on a house I haven't lived in for that long and they were aware of it. I think now they have actually gotten a foreclosure atty on it, things will move. Hard emotionally (shouldn't be, but it is, having a very hard time "losing" the house and feeling like a failure) but I think once it's gone I'll be much better off.

AND I am less than one year to go on my Chapter 13 and am counting the days!

Thanks all!!

Lesa
Missouri