QUESTION
How long can I stay in our home if the bank has a note that we tried to modify but it didn’t work?
Asked on Nov 14th, 2012 on Bankruptcy - Florida
More details to this question:
Home listed on BK7. Hearing was on 11/2/12. The bank lied to us. I would like to find loophole to stay in house for long time.
3 ANSWERS
The most obvious way to delay a foreclosure after a bankruptcy is to continue to submit an application to modify your mortgage debt even though you have been previously turned down. Once you receive your foreclosure paperwork, you can further delay foreclosure by submitting an application to the foreclosure mediation program.
Answered on Nov 16th, 2012 at 3:47 AM
Bankruptcy Law Attorney serving Livingston, NJ
Partner at
Law Office of Stuart M. Nachbar, P.C.
2 Awards
In NJ, if you have listed the Property as surrender in the BK, the Bank will have to move to vacate stay and then go forward with the foreclosure. If you did not surrender the Property, you should file an amendment, give notice to the bank of the amendment, and then stop paying the Mtg. You will have until the Sheriff's sale to get out, but continue to pay your property taxes, utility bills and homeowners insurance.
Answered on Nov 16th, 2012 at 3:16 AM
Criminal Defense Attorney serving Deltona, FL
at
R. Jason de Groot, P.A.
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Consult with a local attorney about this. If you filed a chapter 7, the bank cannot proceed with the foreclosure until the court rules on a motion to lift the automatic stay. What hearing was it? If it was a motion for summary judgment hearing, and you lost, the bank must have had the automatic stay lifted already. In that event, you have until after 11 days after the sale on the courthouse steps before the bank will have title and probably get a writ of possession.
Answered on Nov 16th, 2012 at 3:14 AM