hello guys and gals, i filed for chapter 7 BK in january and received my discharge earlier this month. i surrendered my home during BK.
i recently started reading up on the "Produce the Note" method of delaying foreclosure(my goal is to try and stay at my home for as long as possible to stabilize myself financially).
my question is, can i still do this even after surrendering the home? or did i lose some rights since i already gave up the home.
i recently received a letter from their attorneys saying this:
"pursuant to section 55-59.1(B) of the Code of Virginia, 1050, as amended, the secured party is required to inform you and by this letter does so inform you, that the Promissory Note payable to CTX Mortgage Company, LLC which you executed on or about March 24, 2006 and which forms the basis of this foreclosure action, cannot be produced at this time. Notwithstanding the fact that the secured party cannot locate the original Promissory Note, it will ask that the Substitute Trustee institute foreclosure proceedings against the property upon the expiration of fourteen(14) days from the date of the mailing of this notice to you"
the way i understand it is they will start the foreclosure procedure in 14 days, but they don't have the original note.
I'm in Virginia so its a non-judicial foreclosure and if i want to try and delay using the produce the note way i would need to file a lawsuit against them.. and i don't have the money to pay for an attorney so i would be representing myself. my lender is EMC mortgage corporation
before i go through the trouble of trying to find information so i can attempt to do this myself, id like to know if i can still attempt it even after surrendering the home in a chapter 7 BK.
thanks in advance
i recently started reading up on the "Produce the Note" method of delaying foreclosure(my goal is to try and stay at my home for as long as possible to stabilize myself financially).
my question is, can i still do this even after surrendering the home? or did i lose some rights since i already gave up the home.
i recently received a letter from their attorneys saying this:
"pursuant to section 55-59.1(B) of the Code of Virginia, 1050, as amended, the secured party is required to inform you and by this letter does so inform you, that the Promissory Note payable to CTX Mortgage Company, LLC which you executed on or about March 24, 2006 and which forms the basis of this foreclosure action, cannot be produced at this time. Notwithstanding the fact that the secured party cannot locate the original Promissory Note, it will ask that the Substitute Trustee institute foreclosure proceedings against the property upon the expiration of fourteen(14) days from the date of the mailing of this notice to you"
the way i understand it is they will start the foreclosure procedure in 14 days, but they don't have the original note.
I'm in Virginia so its a non-judicial foreclosure and if i want to try and delay using the produce the note way i would need to file a lawsuit against them.. and i don't have the money to pay for an attorney so i would be representing myself. my lender is EMC mortgage corporation
before i go through the trouble of trying to find information so i can attempt to do this myself, id like to know if i can still attempt it even after surrendering the home in a chapter 7 BK.
thanks in advance
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