QUESTION
How soon will you have to be out of your house, after the filing of a chapter 7?
Asked on Aug 27th, 2012 on Bankruptcy - Colorado
More details to this question:
How soon will you have to be out of your house, after the filing of a chapter 7? House was put in the bankruptcy. What if you just walk away, for a foreclosure?
12 ANSWERS
Chapter 7 Bankruptcy Attorney serving Milwaukee, WI
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Law Offices of Deborah A. Stencel
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How soon you have to be out does NOT depend on the bankruptcy. It depends on the foreclosure process. In Wisconsin, the home will be foreclosed through state court. If it is your primary residence, you will likely have at least another 6 months before the foreclosure is complete. The amount of time varies by state.
Answered on Sep 06th, 2012 at 3:46 PM
Even if you reject your residence in a Chapter 7, you are still entitled to your full redemption period, plus you have to be evicted after that as a holdover tenant. In short, if you file bankruptcy and your house has not yet been foreclosed on (e.g. the foreclosure/sheriff's sale has not yet been held)- most filers ending up living in the house payment free on average for 9 months or more.
Answered on Sep 04th, 2012 at 11:51 AM
Criminal Law Attorney serving Fremont, CA
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Steven J. Alpers, A Professional Corporation
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You probably have about 3 months before they will move to be allowed to evict you.
Answered on Aug 27th, 2012 at 6:14 PM
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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Absolutely no way to know. Depends on the state where your property is located, the lender and whether or not you file for bankruptcy. I wish I could be more specific, but there are far too many questions for me to answer your questions. My best to you.
Answered on Aug 27th, 2012 at 6:11 PM
Bankruptcy Attorney serving Washington, DC
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Law Offices of Diann C. Moseley
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There is no standard answer. It depends upon the lender and how aggressive the company is in pursuing foreclosure. The lender must first file a motion to lift the bankruptcy stay and give you at least 14 days to respond. Assuming the court grants the motion, the bankruptcy stay is lifted and the lender can proceed to foreclosure in state court.
Answered on Aug 27th, 2012 at 4:20 PM
Bankruptcy Law Attorney serving Livingston, NJ
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Law Office of Stuart M. Nachbar, P.C.
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They can not take the house w/out a motion to vacate stay. You can figure 8 months post bankruptcy discharge.
Answered on Aug 27th, 2012 at 3:10 PM
Bankruptcy Attorney serving Livonia, MI
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Charles J. Schneider, P.C.
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The filing of a chapter 7 does not set the guideline for exiting the home. State law does.
Answered on Aug 27th, 2012 at 2:36 PM
There's absolutely no telling how long you can live in your house without making any payments because these things vary so greatly. I know personally of clients who have lived in a home for two years without making payments and the foreclosure still hasn't happened. You do not want to just walk away from the home until the foreclosure is done because you are still responsible for it and things such as homeowner's dues, city ordinances for upkeep, etc. When you surrender your home in bankruptcy, you do discharge your liability on the mortgage note, but until the mortgage lender forces the foreclosure, the property is still your responsibility.
Answered on Aug 27th, 2012 at 2:20 PM
Bankruptcy Attorney serving Overland Park, KS
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The Smalley Law Firm, LLC
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That depends if you chose to reaffirm, surrender or neither on your house in the bankruptcy filing.
Answered on Aug 27th, 2012 at 2:20 PM
Chapter 7 Bankruptcy Attorney serving Clinton, MS
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Timothy Kevin Byrne Attorney at Law
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It depends. Anywhere form 30 days to mine months. The creditor often determines the speed of exit.
Answered on Aug 27th, 2012 at 1:21 PM
Criminal Defense Attorney serving Deltona, FL
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R. Jason de Groot, P.A.
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You can keep your house if you file chapter 7 bankruptcy, but you have to keep the mortgage payments current.
Answered on Aug 27th, 2012 at 1:21 PM
Daniel James Wilson
You can stay there until foreclosure sale.
Answered on Aug 27th, 2012 at 1:21 PM