Motion to Lift Stay

[stacylynn]

Hi everyone, I just received a letter to lift stay of my house. I am in Chapter 13 and 2 months behind on my mortgage. This is the second time I have been through this. If I come up with the money I am behind on, will my house still go into foreclosure?

[amjo30]

Hi everyone, I just received a letter to lift stay of my house. I am in Chapter 13 and 2 months behind on my mortgage. This is the second time I have been through this. If I come up with the money I am behind on, will my house still go into foreclosure?

Call your attorney, Let him/her help you. Your attorney will know exactly what to do next. I am surprised your mortgage company is trying to lift the stay when you are only two months behind. Many people are 6 months or more behind and filed bankruptcy. It appears to me the bank really wants your house. Do you live in an area where housing sales are good? It's just weird to me because usually the banks don't want to forclose. well, keep us posted. Good luck to you.

[justbroke]

Hi everyone, I just received a letter to lift stay of my house. I am in Chapter 13 and 2 months behind on my mortgage. This is the second time I have been through this. If I come up with the money I am behind on, will my house still go into foreclosure?

Wow, you're in a Chapter 13 and behind. Yes, you will need to get caught up. In some strange cases, your Attorney may be able to get those "post-petition" arrearages into the plan, if you have a good reason. They will also want the payments inside the plan (which will increase your payments because you'll have an additional 10% (or less) to pay to the Trustee for managing this.

The Motion for Relief from Stay is going to be granted unless you come up with the money real quick! Once that motion is granted, the Bank is likely to quickly go into foreclosure mode (Notice of Default first). There's time to correct the default, but I think you'll no longer have the protection of the Bankruptcy court because once that Motion is granted, you do not want to be late anymore.

Contact your attorney. See what they can do.

Remember, the Motion for Relief From Stay means that the Bank wants to no longer be subject to the Stay (imposed by 11 USC 362) so that they can take action to accelerate your note and sue through foreclosure and/or to offer you other options. If they are granted the Motion, you should be immediately making a deal with the Bank on catching up the payments... if you want to keep the home.

[StartingOver08]

Call your attorney, Let him/her help you. Your attorney will know exactly what to do next. I am surprised your mortgage company is trying to lift the stay when you are only two months behind. Many people are 6 months or more behind and filed bankruptcy. It appears to me the bank really wants your house. Do you live in an area where housing sales are good? It's just weird to me because usually the banks don't want to forclose. well, keep us posted. Good luck to you.

Amjo the difference here is the OP is already in bankruptcy and was supposed to keep his house payments current during the BK 13 and fell behind 2 months.

The other people you reference fell behind 6 mths or more and then filed bankruptcy to protect their home.

[amjo30]

Wow, you're in a Chapter 13 and behind. Yes, you will need to get caught up. In some strange cases, your Attorney may be able to get those "post-petition" arrearages into the plan, if you have a good reason. They will also want the payments inside the plan (which will increase your payments because you'll have an additional 10% (or less) to pay to the Trustee for managing this.

The Motion for Relief from Stay is going to be granted unless you come up with the money real quick! Once that motion is granted, the Bank is likely to quickly go into foreclosure mode (Notice of Default first). There's time to correct the default, but I think you'll no longer have the protection of the Bankruptcy court because once that Motion is granted, you do not want to be late anymore.

Contact your attorney. See what they can do.

Remember, the Motion for Relief From Stay means that the Bank wants to no longer be subject to the Stay (imposed by 11 USC 362) so that they can take action to accelerate your note and sue through foreclosure and/or to offer you other options. If they are granted the Motion, you should be immediately making a deal with the Bank on catching up the payments... if you want to keep the home.

Stacylynn, I should have asked this but I thought your mortgage was paid through your plan. Your attorney should have told you that if you pay the mortgage outside the plan then you must pay on time. You can't fall behind on payments.