QUESTION
I am going through chapter 7 right now, I have already filed. I have received a letter with this request, and I''m wondering what to do?
Asked on Jul 11th, 2012 on Bankruptcy - Virginia
More details to this question:
Flagstar is asking the court to remove the house from the bankruptcy so that they may proceed to foreclosure. As you are surrendering the property, we would like to sign a consent order granting Flagstar''s motion. Please let me know if you are agreeable to this. You will not be responsible to pay the debt owed to Flagstar for any balance due after the foreclosure.
1 ANSWER
Bankruptcy Attorney serving Burbank, CA
Partner at
Law Office of Mark J. Markus
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3 Awards
Are you trying to keep your house? If not, it sounds like Flagstar is filing (or has filed) a Motion for Relief From the Automatic Stay for permission to commence foreclosure proceedings. Did you indicate an intent to surrender the property? If so, that's why you got the letter.
It is a bit unusual for them to send you the letter, but probably isn't going to harm anything to sign it, but you need to have your attorney review it to be sure. The safest approach is just to let them file the required motion with the court and it will be granted if you do not file an opposition to it.
Mark J. Markus, Attorney at LawCertified Bankruptcy Law Specialist--State Bar of California Board of Legal SpecializationHandling exclusively bankruptcy law cases in California since 1991.http://www.bklaw.com/bankruptcy blog: http://www.bklaw.com/bankruptcy-blog/Follow Me on Twitter: @bklawr
Answered on Jul 11th, 2012 at 9:19 PM