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We are wondering the same thing. Our sherrif sale happened 3 weeks ago. I am unsure if it sold or not, but wonder if this halts our 6 month retention period (MI).
So, I wonder how this will affect my ability to ever get rid of my house? (I included it in BK and I WANT them to take it.)
You can't force them to take it. This just means they will probably withdraw their foreclosure suits in most of the 50 States... fix the paperwork... and start over. This is probably a 3-4 month delay. Those in Florida, are enjoying 11 months of free rent anyhow.
Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10) Status: (Auto) Discharged and Closed! 5/10
Visit My BKForum Blog: justbroke's Blog
Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.
We are wondering the same thing. Our sherrif sale happened 3 weeks ago. I am unsure if it sold or not, but wonder if this halts our 6 month retention period (MI).
This won't halt a redemption period. This is a voluntary suspension of the foreclosure lawsuits themselves.
Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10) Status: (Auto) Discharged and Closed! 5/10
Visit My BKForum Blog: justbroke's Blog
Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.
This won't halt a redemption period. This is a voluntary suspension of the foreclosure lawsuits themselves.
Correct. The foreclosure process as such continues uninterrupted. Only the actual sale of the properties is halted at this time.
Stopped paying: 08/10, Filed CH7: 08/27/10 , 341 & No Asset Report: 10/6/10, Last day to object: 12/06/10, Discharged: 12/07/10, Closed: 12/08/10
AHEM.....NOT AN ATTORNEY, NOT ADVICE, ETC, ETC
I feel dumb for continuing to pay my discharged, non re-affirmed "mortgage" with BofA each month. We are still flat broke because of this mortgage (aka rent payment), but we continue to pay because it the "right thing to do." How dumb am I? I could be pocketing this money and living here rent free for months & months and MAYBE just MAYBE I'd have a savings account and be able to sleep in peace at night...... but NO !!!! I pay it. How dumb am I ? I feel pretty dumb about it .....
You're only dumb if your intention is to actually surrender the residence. Don't think of it as not paying, since you discharged your legal responsibility to pay. The lenders actually like that someone is living there, because it keeps the chances of it being vandalized and/or stripped down low. SO much so, that some lenders are renting the places back to the recently foreclosed-upon homeowners!
Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10) Status: (Auto) Discharged and Closed! 5/10
Visit My BKForum Blog: justbroke's Blog
Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.
I feel dumb for continuing to pay my discharged, non re-affirmed "mortgage" with BofA each month. We are still flat broke because of this mortgage (aka rent payment), but we continue to pay because it the "right thing to do." How dumb am I? I could be pocketing this money and living here rent free for months & months and MAYBE just MAYBE I'd have a savings account and be able to sleep in peace at night...... but NO !!!! I pay it. How dumb am I ? I feel pretty dumb about it .....
As jb said, only dumb if you're going to surrender the house.
Stopped paying: 08/10, Filed CH7: 08/27/10 , 341 & No Asset Report: 10/6/10, Last day to object: 12/06/10, Discharged: 12/07/10, Closed: 12/08/10
AHEM.....NOT AN ATTORNEY, NOT ADVICE, ETC, ETC
oh...and how we need that SALE to get our names off that darn deed!!!
how many times did you check pacer today??? LOL!!!! just asking?
Twice...no charge...lol
Stopped paying: 08/10, Filed CH7: 08/27/10 , 341 & No Asset Report: 10/6/10, Last day to object: 12/06/10, Discharged: 12/07/10, Closed: 12/08/10
AHEM.....NOT AN ATTORNEY, NOT ADVICE, ETC, ETC
So what does this mean? BOA just filed foreclosure on my house on 9/28/10. I haven't been served yet, but a writ was issued on Tuesday. I am 12 months behind. Will the case proceed as usual?
Yes, the case will proceed as usual but will stop at the actual sale until BofA lifts the suspension.
Stopped paying: 08/10, Filed CH7: 08/27/10 , 341 & No Asset Report: 10/6/10, Last day to object: 12/06/10, Discharged: 12/07/10, Closed: 12/08/10
AHEM.....NOT AN ATTORNEY, NOT ADVICE, ETC, ETC
Hmmm...just wondering if my foreclosure will take longer than it already is...haven't heard a peep from BOA and stopped paying with my May payment. I'm still in my house saving good $$$$ and enjoying rent-free for now. I feel a little guilty then I get over it...
LOL I feel absolutely NO guilt. I have been trying to do a workout since July 2009, before I had a single late. They made me wait until I missed a payment. That was in October. They lost my documents and switched negotiators so many times that I just gave up. Not to mention that my house in now $40K underwater. Not worth it!
Month 26 living rent free the banks are in business to make money and so am I, there is no reason to feel dumb about paying or guilty for not paying they sure as he11 don't feel guilty about foreclosing on you!
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