Surrendered Rental Property - Question?

[regaleagle]

My chapter 13 proposed plan pymt is $2000 a month. Too much disposable income.

Anyway, I am surrendering rental property in my petition and the mortgage co filed a 'Relief from Stay' in order to begin foreclosure on the property. My attorney says this is standard practice. Has anyone heard of this being standard practice or know of another alternative? Should I be concerned about this since my attorney has no plans to reply to the mortgage co's request to the court?

I'm still very nervous and now I'm 2nd guessing my decision to file.


Hello, missed you all. I've been viewing but no posts lately.

[HHM]

That's pretty much standard practice. Since you are already in BK, there are no other options for the mortgage company but to file to lift the automatic stay so they can foreclose. The only way for mortgage companies to dispose of property is through foreclosure.

[regaleagle]

HHM - Thanks for stating the obvious in a way that didn't make me feel even more stupid than I do right now.