Our 341 is Tuesday. If this goes thru as a 7, I guess we have 60 days before we have to move or more? What happens, do they still foreclose, will they serve us at work? Do they call us... what is the process? We will move when we need to of course, but we don't want to move as long as we are having to pay insurance and water on it. Oh, I live in the Ozarks in MO.
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The lender can do nothing until they file for relief from stay as long as you're in bk.
Once discharged, they may proceed with foreclosure but, they still have to follow the laws and procedures of your state. That's how many people stay in foreclosed homes for many months.
Ask your lawyer about an estimated timeline for Mo. -
Your lender will still need to go through the foreclosure process. You won't be served at work or receive phone calls. Your lender is expected to send you a Notice of Sale prior to the sale.
Quick Facts:
*Filed: September 23, 2009 *341: November 4, 2009 *Discharged: January 4, 2010 *Closed: January 20, 2010
Hakuna Matata...it means NO WORRIES!
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so, if the bank ends up being the highest bidder they are pretty much stuck for 12 months before they can sell it again? No wonder they board places up if they have to wait a year to sell it. Yikes.Comment
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