Relief of Automatic Stay - Help!

[sjcmCA]

I found that the mortgage company submitted a motion for relief of automatic stay on my home last week.

This is the summary of my case in Northern California.

*Filed Ch7 in End of November, 2009
*341 meeting on December 29, 2009 (No asset case)
*Last date for the objection of all debts is March 2, 2010. (about 60 days after 341 meeting)

They set the Hearing Date on March 15 for this motion for relief of automatic stay. The paralegal in the attorney office told me that I don't have to go to the court for the hearing.

I don't know if it is normal to set this hearing date after March 3rd.

My question:

(1) Is it possible that my case discharge/closing date can be extended due to this motion? (My final due date for the court fee was March 29, does this affect discharge/closing date? I paid all the fees already.)

(2) Hearing date means that the title for my house can be transferred to the bank right away? or Still they need to take "NOD" and "Foreclosure" process which normally takes minimum 3 months.

Since I need to schedule to move out, any information and experience would be highly appreciated.

Thanks in advance.

[DebtStinks]

Relief from stay just means that the bank can move forward with the foreclosure. They can't be sure when your case will be closed or how backed up the courts will be in regards to getting the hearing date.

But after they get the relief or you case is discharged they can move forward... they still need to give you a NOD then you have 3 months. After that they have to set a sale date and publish it in the paper for 21 days. House goes up for auction. Transfer of title to the bank or new owner (time varies). Then you'll get a 3 day Notice to Vacate posted to the house. This is your window for a cash for keys deal if you leave the house by an agreed date in "broom clean" condition. Otherwise they will move forward with an eviction.

[sjcmCA]

Relief from stay just means that the bank can move forward with the foreclosure. They can't be sure when your case will be closed or how backed up the courts will be in regards to getting the hearing date.

But after they get the relief or you case is discharged they can move forward... they still need to give you a NOD then you have 3 months. After that they have to set a sale date and publish it in the paper for 21 days. House goes up for auction. Transfer of title to the bank or new owner (time varies). Then you'll get a 3 day Notice to Vacate posted to the house. This is your window for a cash for keys deal if you leave the house by an agreed date in "broom clean" condition. Otherwise they will move forward with an eviction.

Thanks a lot for your quick response. It relieves all the stresses I had today.

After the hearing date, it would min three months to be foreclosed if NOD will be issued.

It's really helpful for my family to set up a move-out schedule.

Thanks again for your response!!!

[DebtStinks]

No problem at all... we are in the same boat here. We were discharged last Sept and are just waiting for BofA to file the NOD and start the foreclosure process. We will the use the 3-4 months after the NOD to get things packed up.

You should be checking your county recorders website... they usually have a way to search for recorded documents. I think the bank has like 30 days to actually serve you with the NOD papers AFTER the file date. But if you search every couple days you will know ahead of time when they have filed the NOD.

[sjcmCA]

No problem at all... we are in the same boat here. We were discharged last Sept and are just waiting for BofA to file the NOD and start the foreclosure process. We will the use the 3-4 months after the NOD to get things packed up.

You should be checking your county recorders website... they usually have a way to search for recorded documents. I think the bank has like 30 days to actually serve you with the NOD papers AFTER the file date. But if you search every couple days you will know ahead of time when they have filed the NOD.

Thanks DebtSinks,

Wow, BOA has not filed NOD yet even though your case was discharged in September? Probably they are pretty busy to handle thousands foreclosures in California.

BTW, is it normal to set "Hearing Date"? I didn't know that actually.
I hope my case can be discharged early March not April....

Thanks again.

[DebtStinks]

Yep things are backed up here big time...

The hearing date is normal and you don't need to go (unless for some reason you wanted to fight to keep the stay in force. You'd have to have a valid argument though).