My husband and I surrendured our home in a chapter 7. A few weeks ago we received a notice from a company called MERS who requested a lift of stay. Has anyone heard of this company and would anyone know how long after the release do we have to move? We are in CA. Will we still have a regular foreclosure or will we have to leave ASAP? Thanks!
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The only MERS I've heard of is Mortgage Electronic Registration System. From what I've read here, requesting the lift from automatic stay is a fairly typical procedure in the bK process. They will then move foreward with the foreclosure process. You'll still have a few months before they complete the foreclosure. I also live in California and stopped paying my mortgage two months ago. I saw my lawyer this week who told me it will probably take a year from when I stopped paying before I'd have to move here in Nor Cal with the BK factored into the equation. -
Hi Doghouse & Tweets,
I'm in a similar situation in Cal., stopped paying mortgage, plan on surrendering in Ch. 7 which will be filed April or May of next year.
I know they can lift the stay in about 6-8 weeks after BK filing; but were you told how long after that they'll actually foreclose? Do they start over again in the process, ie set a new sale date, etc.?
I'm just trying to get a sense of when to start looking for a rental and building our new life..!!
Thanks.Comment
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