motion for auomatic stay

[shelly66]

we are surrendering our house in ou plan we have our meeting with the trustee next week. We receivd a motion of relief from the automatic stay. I am not sure what this means, I see my attorney receiv3ede a copy of this too. should I be worried?

[AngelinaCatHub]

No you should not be worried. Entirely normal. They must lift the stay for the process of repo. That is all. They will get it and it will not hurt your bk. 'Hub

[shelly66]

does this mean they will kick us out of the house faster now that we filed. We have not found a place to live yet, I wonder how long we have?

[AngelinaCatHub]

Well, a bunch of stuff has to happen first. Apparently you told them you are giving up the house. They have to make notice to you of their intent, then time goes by, and in the very end, they sue you for eviction. That takes at least a month. You should have plenty of time to find a place in worse case. Start your looking now and save the payments towards your deposits and so forth. 'Hub

[shelly66]

My Lawyer said it can be any from 60days to up to 4 months from the day we filed. I hope we have the 4 months.

[AngelinaCatHub]

As busy as the Courts are now with bks, you probably will. I believe it has to go to court and be sold at auction, etc. and all that paperwork. Depends on how busy they are. Also, when you vacate, they have to insure and maintain the place if it does not sell at auction. Oh, also, keep your insurance on that property until the end. It is still yours until the Title changes. 'Hub

[shelly66]

Wow, I am glad you told me that I received a bill a month ago for the last payment on my ins. I did not pay it, I guess I should tell my lawyer I thought since I was giving upmthe house I didn't have to worry. Thanks for your help