Now what does this mean? I'm gonna have a stroke

[Kingxray]

Hi all,

Just received a copy of a motion for relief from automatic stay and motion of abandoment from our mortgage company on the house we are surrendering. I checked Pacer and it says deadline to object is 2/26. It use to be 2/17. We are currently under a motion to dismiss from the UST and are reworking our numbers so we don't get thrown into a 13. I will talk to our lawyer next week.

Does this mean they can contact and harass us now? Does it mean they plan on filing an objection? What exactly does this mean? I am freakin' out! This whole thing has been a total nightmare.

[keepmine]

If the motion is granted, it means they may proceed with foreclosure.

[justbroke]

Does this mean they can contact and harass us now? Does it mean they plan on filing an objection? What exactly does this mean? I am freakin' out! This whole thing has been a total nightmare.

A Motion for Relief from the Automatic Stay is absolutely normal, customary, and required when you are surrendering property in a Bankruptcy. Perfectly normal, nothing to be concerned with since you are surrendering.

This absolutely does not give them permission to pursue you. As a matter of fact, the Order of Motion for Relief from Stay will contain words similar to "the creditor is allowed to pursue an in rem action and may not pursue in personam action". Fancy speak for they can foreclose on the property (in rem) but not go after your for anything (in personam).

Generally, the lender/creditor will also ask permission from the Court for limited contact with you to offer you a forbearance, modification, or other deal to get you to keep the house.

Other than that, they can't call, harass, or attempt to collect on that mortgage!

[Kingxray]

Thanks so much! This forum really makes me and many others feel better, especially when we have to wait sometimes days to talk to our attorneys. Thanks again!

[relief13035]

We are surrendering 2 rental properties and received a motion for relief of automatic stay on both of them. It's just the normal process. Don't freak out. One of the rentals received the relief of automatic stay in November and still nothing has happened.

[Duke89]

Nothing to worry about on this. We had the same motion from Chase Home Finance on the house we surrendered. Our attorney told us not to even bother showing up to the court hearing on it since we were giving the house back. Chase got what they wanted and we have not heard from them since.

[Help!]

Yep, no worries. This is the normal process when you surrender a home. You can also expect a very scary looking notice in the future listing you as the "defendant" stating that you're being sued by your mortgage company - this is the beginning of judicial foreclosure and nothing more. Hang in there!

[biotechsolution]

Thanks so much! This forum really makes me and many others feel better, especially when we have to wait sometimes days to talk to our attorneys. Thanks again!

you aren't planning on using the payment for this surrendered property in your numbers because that could create a problem since it is already surrendered.

[Kingxray]

you aren't planning on using the payment for this surrendered property in your numbers because that could create a problem since it is already surrendered.

We did at first because we had renters in there making the payment. The UST made us redo the numbers and we removed the house from schedule J and means test and hopefully we will pass the means test and satisfy the UST. I will learn what the numbers came out to be tomorrow. So scared!