How to stall my foreclosure in TX? Help!

[whattodointx]

So, I have been reading like crazy, but this stuff is just so much over my head!

We are filing for BK the first week of August and have retained a lawyer already. We are CURRENT on our mortgage and have never defaulted. From what I understand, Texas moves fast on foreclosures and getting you out of the house quickly.

Please, someone who understands this issue please tell me what YOU would do in our shoes. We want to stay in the house as long as possible to save up money for a move that will ease our financial situation greatly. We figure if we are already going to ruin our credit with the BK, we might as well get rid of the high debt house and start over. Sure would like to save some money on mortgage payments along the way...

Sorry in advance if I did not give enough information and sorry for playing the "airhead" card too!

Thanks!!!!

[lrprn]

It takes about 60 days to foreclose a property in Texas - http://www.foreclosure.com/statelaw_TX.html

You can stall the foreclosure if you contest the action in court, you seek delays and adjournments of sales, or if you file for bankruptcy.

[whattodointx]

Texas Foreclosure advice requested

Note: I posted on Foreclosure board, but thought I might get more help over here.

So, I have been reading like crazy, but this stuff is just so much over my head!

We are filing for BK (Ch 7) the first week of August and have retained a lawyer already. We are CURRENT on our mortgage and have never defaulted. From what I understand, Texas moves fast on foreclosures and getting you out of the house quickly.

Please, someone who understands this issue please tell me what YOU would do in our shoes. We want to stay in the house as long as possible to save up money for a move that will ease our financial situation greatly. We figure if we are already going to ruin our credit with the BK, we might as well get rid of the high debt house and start over. Sure would like to save some money on mortgage payments along the way...

Sorry in advance if I did not give enough information and sorry for playing the "airhead" card too!

Thanks!!!!

[BK2008]

I filed in TX, and surrendered my home 11th hour, but this I can tell you:

Do NOT reaffirm your mortgages. Just keep paying if you want to continue to keep the home. Or stop paying it if you want to surrender in BK. I stopped paying July 08, got my NOD in November, was supposed to foreclose in December, but actually did not get foreclosed until February. I had left well before the 21 day notice to vacate ever arrived, so I never saw it.
And continue to maintain insurance until the date of sale if you don't have an impond account with some $$ in it. I cancelled my insurance in December, the lender forced a policy on the property until February, using what was left in my escrow account. I personally thought it was beneficial for me to do that, since my HO policy was paid in full thru escrow in October 08, so I got my money refunded directly to me. And whatever was left in escrow was lost anyway.

Hope this helps.

[AngelinaCatHub]

[lrprn]

Note: I posted on Foreclosure board, but thought I might get more help over here.

WTDIT, it's against our forum rules to post the same question in different forums.

To get your two identical threads and their replies to your questions into the same location, I merged the thread you started in Foreclosures with this one.

In the future, please don't copy/paste the exact post you uploaded into another forum area to make a new thread in a different forum. Thanks.

[Brighterdays]

This is the newest craze sweeping the nation. it is really pissin off the banks. its called "produce the note". Unless you have your mortgage with some small town bank, it is likely it was packaged up and sold off to fannie,freddie or some other lender. Hence they don't have the "original note", which by law they can't foreclose without.

http://www.consumerwarningnetwork.com/2008/06/19/produce-the-note-how-to/