QUESTION
Will Chapter 13 filed after sheriff home sale but before sale confirmation, will reverse sheriff sale?
Asked on Feb 09th, 2017 on Bankruptcy - Ohio
4 ANSWERS
Bankruptcy Attorney serving Alpena, MI
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Carl C. Silver Attorney at Law
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NO.
Answered on Apr 18th, 2017 at 8:35 AM
Bankruptcy Attorney serving Madison, WI
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Richard B. Jacobson & Associates, LLC
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It will void the sheriff's sale in one sense: further proceedings, meaning confirmation of sale, are stayed by virtue of the Automatic Stay which comes into effect immediately upon filing the case. If you file a Ch. 13, and can put in enough money to pay the arrearage to the creditor over 60 months (along with current monthly payments), you can ordinarily keep the home and at the end of the Ch. 13 you will be in good standing with the mortgage-holder. In a Chapter 7, all you would accomplish is hold off the creditor by a few months at most.
Answered on Apr 18th, 2017 at 8:35 AM
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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No, the Chapter 13 will only stop the sale if it's filed before the sheriff's sale.
Answered on Apr 18th, 2017 at 8:34 AM
A confirmation of the sale is meaningless. When you miss the sale deadline, in Nevada, your ownership in the property is DEAD.
Answered on Apr 18th, 2017 at 8:34 AM