Objection to Relief from Stay

[Inpara]

Filed Chapter 7 November 6. Statement of Intentions listed surrender the home. Mortgage company filed a Motion for Relief from Stay. Here is the question..In Arizona, Is there any objection I can file in order to stay in the house a little longer? This is a non-judicial foreclosure. Any help is appreciated!

[StartingOver08]

How long are you looking to stay in the house?

How long did your attorney say it would be before you had to move once the Relief was granted to your lender?

[Inpara]

Would like to stay until February if possible. We are keeping the house and yard in great condition as we really wanted to keep it but the mortgage company would never work with us. Now we just want out!

If no objection is filed its possible that we will have to be out before Christmas

[StartingOver08]

I don't know. This is a good question for your BK attorney. I am in Fl and have been able to stay more than a year after I surrendered my house at the time of filing (Sept 30 2008). this is highly dependent upon your BK district and your Trustee. Your attorney is the best source of info regarding the local timelines.

Are you in AZ or IN? Your location says Avon, IN and your post says Arizona.

[Meatstick]

Inpara by all accounts you should be safe until sometime early next year even if you don't file any objection. Are you current on the mortgage right now ? If you are I think your in good shape and should have around 4 -6 months for the process to play out.

I am in Arizona also, am current on mortgage but will be filing Ch.7 in March and will not re-affirm since house is $100k less than what the mortgage is.

Here is a link that someone else posted in another thread that may help you.

http://www.mortgage-investments.com/borrow-money/foreclosure-laws.htm

Good luck;

Meatstick

[music12]

what's a non-judicial foreclosure? they don't have to go to court to get you out??

[Dewey]

In Arizona, once the Notice of Sale is filed with County Recorder, you have 3 months until the auction. Same timeline if Relief from Stay is granted. Then as I understand it, you may even have a few weeks after that depending on if you make the auction winner evict you.

There's nothing you can file to ask for more time in the house. The Court will tell you that it is up to the lender...and you can guess what the lender's answer will be!

[aljohnson007]

Stay put until the title changes and they order you out.

[music12]

Stay put until the title changes and they order you out.

yes, just make sure you also make preparations for moving out quickly when the time comes.

[Inpara]

Thank you so much for all of your input! I love this website. It has been such a blessing. I hope to be able to help someone else out there who needs it as you all did for me. I'll keep you posted!

[MSbklawyer]

The distinction needs to be understood between foreclosure and eviction:

Foreclosure means that the lender is terminating your legal interest in the property. Once your interest is foreclosed, it means that you have no more legal right to possession of the house. The lender then tries to sell the house again to someone else to recover all or some of their debt.

Eviction, on the other hand, is a legal action to make you physically leave the property.

Depending on the housing market in your area, and given the fact that you are keep the place up, the time between foreclosure and eviction can be a very long one.

[music12]

when you say the time can be "a very long one", how long could that be? a few weeks? months? and is there a way to predict it?

[DeadManCrawling]

No way to predict. In our area, I know of lenders who have foreclosed and allowed the original owners to remain for a couple YEARS. Sometimes they pay rent, most of the time it is free. The lender requires the "tenant" (lol) to maintain the property, mow the lawn, and be ready to move with 30 days notice and allow real estate agents to show the house.

The lender gets the benefit of maintenance and occupants, which is increasingly important, as houses here are deteriorating fast, from weather (humidity), and vagrants moving in.

One home two blocks from here has been vacant for three years. THe previous owners tried to work out a deal to pay the lender 220k cash, but the lender wanted market value (over 350k at the time). Since then, the roof has caved in, most of the windows are gone, two structural support columns have collapsed. It is now worthless. Should be condemned, and is housing different vagrants every week.