Why would this be true?

[technoreid1]

I just wonder why our lawyer said it was "best" to file our BK before receiving a notice of default on our home?

Why would this be true? Is there ANY advantage to filing a BK before we receive the NOD?

I have been told by several people that "it does not matter".


thanks,

techno

[BassBoy]

I believe that since the lender can foreclose when you default, the lender will probably have the saty lifted shortly after you file because basically, the foreclosure process would have begun, whereas filing before the NOD, the lender may wait until after your 341 hearing to lift the stay. We filed before our NOD and the stay wasn't lifted until after the 341.

I don't think it makes much of a difference either way. Maybe it's just a way to keep the lender from lifting the stay right away, thus giving you the extra month or so in the house.

Just my opinions here.

[HHM]

You have already asked this question in another post, and the question is really not worthy of its own thread.

Please don't ask questions in a new threads that already have responses in other threads (especially threads that you posted).

All we can do is speculate about what your attorney thinkgs, you need to ask your attorney why.