Discharged 7/2012...a few Qs

[bkinMA1985]

Hey everyone,

I haven't checked back in here for awhile. Husband and I had our chapter 7 discharged in July 2012. Bank hasn't done anything as of yet. We are still in one of the apartments of our 4-family house. Still renting the other 3 apartments and saving for the inevitable move. We continue to pay the water/sewer bills and fix things that break since we are the landlords. My questions are:

1) Is there a certain amount of time after a BK discharge that the bank will request relief from stay?
2) When do we move so we can avoid an eviction notice? Once the sheriff's sale is announced?
3) Will the bank enter the property and force an inspection? My SIL stays in our basement since she has no job and is content there. She knows she'll need to move soon. I just don't want this to lead to trouble.

We want to remain in the house as long as possible to avoid anything happening to it while it is still in our names (and to save money too....please don't judge) but we have two small children and I don't want to take too much risk by trying to milk it and stay put too long.

Thanks!

[jst4f]

If your BK is discharged, the relief of stay in mot. It only applies during then 60 day period leading up to yourndischarge.

BTW is you BK closed?

As for the rest you will have time to react. The bank has to foreclose before they can evict. Watch, wait and listen and you will be I formed as the bank moves forward.

[Floridagail]

No relief of stay is needed if the bkrptcy is over. We plan to get a rental by the Auction Date on our house.
I hope all the people renting are aware the home is headed for forclosure, and they will have to move sooner than later. It just all depends on when the Bank is ready to move on the forclosure. I would follow the progress on your county website. I know my legal notices come about 2 wks after they are on the site.

[Drazil65]

Even if you have a sale date does not mean that the date could not be changed. The bank can stop it (happen to us after 18 months of waiting and wanting the sale to go through), BOA sold our loan to another servicer and they stopped the sale. They hoped we would modify and pay, stupid people did not even realize that the house was vacant and we lived out of state. So we have been waiting for them to do the paperwork for another sale date, this was the end of December and here it is March and they are sitting on it.