DId your lender lift the stay to complete foreclosure?

[endisnear]

Just curious if they did, and if so how far into your BK? Just trying to gauge how much longer we have to live for free

[justbroke]

The Relief from the Automatic Stay (RFS), is a technicality and every lender tries very hard to not violate that Stay, as it is significant and violating it (even unintentionally) can bring stiff penalties and sanctions.

So, in a Chapter 13, the lender will usually get the RFS prior to confirmation if you're surrendering. They may also get an RFS during your Chapter 13, if you're not paying or have failed to maintain adequate protection (insurance and/or paying property taxes or HOA assessments/dues).

In a Chapter 7, the lender will generally get the RFS before discharge. They may get the RFS, but not actually take foreclosure action for months.

The Automatic Stay (11 USC 362) is powerful and no one wants to get caught violating it.

In my case, the lender asked for and was granted an RFS on the property that I was surrendering. It was pretty quick after they learned that I was abandoning the property and surrendering it.

[endisnear]

We are filing C7, atty will be doing so before month's end. Our NOD was filed I think the beginning of this month. So that would give us at about 3 more mos of free living, but in filing I was just curious how much extra time, if any, that'd give us.

We'd like to stay just long enough to get a cash for keys deal, but not so long that we're going crazy trying to find an apt and get moved.

[AfraidOfBK]

Endisnear,
what state are you in and who is your lender? I hear soem are way worse than others....perhaps 'attempting' the loan mod or a workout of sometime might delay things??? THat is what I have been advised, and what I am trying to do...they still ask for pmts all the time but I already got NOD.

I told the collections guy (who was very nice) my situation and that I was having a baby in May. I pleaded that I wanted to know if I would have a home to bring my baby home to or if someone was gonna try and foreclose on me while Im in the hospital, etc.

They were very sympathetic and gave me a timeline, estimating that I had at least a few more months before foreclosure started. I plan on filing BK 7 in July to delay things a bit (maybe) and then I assume all lenders (once they find out you're surrendering home) will try to lift the stay to proceed with foreclosure.

Have u asked attorney about ride through? What does attorney say about staying in house? Ours told us to secure a rental before we file so that it wasnt on our credit yet, but we said WHY when we can stay rent free for a while- plus, we want to move out of state by the end of the year so our situation is a bit unique.

I would call company and ask for timeline because you are "trying to understand if you can keep your home" know what i mean?

[endisnear]

We are in CA. We stopped paying in Nov. Submitted app for loan mod in January and it STILL has not even been assigned to a negotiator. Lender is Nationpoint and they do not seem to care. Having submitted the mod app has not stalled anything as we got our NOD letter in late March, so they are still proceeding with all foreclosure action....up until our atty files next week But yes, like you we do not want to secure an apt to live in now as we can still get away with a few more months of living for free!