If you surrendered your home with Ch 7

[dp1969]

Well, we are hoping to stay in the house at least a few months while not having to make payments. That is why I was currious if there was a different timeline if it is an asset case like ours will be.
Rentals are easy to find around here. And most are private owner type situations. No real credit checks or even leases.
But you do have to have the securety deposit and such. Which is why we really need to stay in the house a bit to save some money.

Tay-

Yes, stay in your home and save that money. In my area, we have credit checks and leases (which we do need) and the property management companies won't even look at your app. if you have a BK on it. I needed to make a decision to apply early so as to avoid the BK showing on the app. They keep the app. for 4-6 months...we will have to be out of our home by then.

[FreshLikeADaisy]

Tay, that sounds like a good plan. See, you can sit there all the way through the foreclosure sale and nothing will change; it's waiting for the eviction, and having the constant thought of being without a roof over your head that will make you crazy. If I had to do it over again (and oh no I don't think I could!) I would count on being out by the date of the foreclosure sale, which you will have plenty of notice of. From default to notice of acceleration with Countrywide took three months, and it was another three months before the actual foreclosure sale (that's the part that really depends on what state you're in). So if you want to stay a month or three and save the money, you should be fine if you haven't even defaulted yet. Good luck!!!

[tay666]

Tay, that sounds like a good plan. See, you can sit there all the way through the foreclosure sale and nothing will change

That is just it though.
I don't think it will be a foreclosure sale since it will be an asset case.

[FreshLikeADaisy]

At some point, you will receive either a Notice of Acceleration (foreclosure) or you will work with the trustee to surrender the property to the bk estate, and I think that largely depends on when you file. Since you know you have at least a couple months from default to foreclosure (this varies from state to state, though) you could theoretically wait until you received the notice of acceleration to actually file your bk, which would give you some addl time as well. By the time you have to act one way or the other, you'll be out anyway.

Maybe someone with more experience can elaborate for you, but these are my thoughts anyway. Good luck!!!

[tay666]

Thanks.
I started another thread with a better title.
To see if I can get the attention of anyone who had a BK7 asset case.