Question about foreclosure and filing a chapter 7

[sunkinsc]

We have decided to file Chapter 7 after looking at all our options. We had hoped for a loan mod with our lender on our home but time just ran out before I could get a job. I actually had a job offer the same day we received a notice from the lender attorney on a court date on Feb 2 to begin foreclosure. Now there is a sale date set for March 8th

I had lost my job last summer and really hoped to at least get something in time to work on the loan mod. We kept up with our lender on a weekly basis what was going on yet they still moved into foreclosure.

Anyhow, I am only a few weeks into working and obviously do not have the money to bring the mortgage current along with all our other bills. We cannot afford an attorney right now so we are filing pro se. I plan to file on 3/2/10.

I am confused on what happens after that and I am looking for any insight that someone could offer.

1. Once I file will they still have the sale on 3/8? And if so will I be forced out that day? That would be a tough one as I have a wife and 2 babies and no money to move anywhere at the moment. We are planning to move but won't have the money to do so until I have a few paychecks under my belt and we catch up on cars and living expenses.

2. I am praying this won't happen but if something is wrong with any of my documents I file will the court dismiss or do they ask or order a correction first?

3. My wife had filed a Chapter 13 but then withdrew 10 months ago, does that disqualify us from filing a Chapter 7? We have never filed before.

After filling out the paperwork I am almost keeled over at our debt amount. I cannot believe how stressful this is and realize the saddest fact is I am worth more dead than alive with my life insurance

Thanks for any responses and please tell me this gets easier

I am in South Carolina if that helps any.

[OhioFiler]

The sale will be canceled on the day you file bk. They'll have to start over.

Even when the house forecloses you'll have a couple months minimum before you have to leave.

You'll have a opportunity to correct schedules you may have made a mistake on. I would try to ensure they're correct before you file though. It looks better.

It gets easier!

[Snax]

. . . I am worth more dead than alive with my life insurance

I think most of us are in that club - but only on paper.

[BKDefender]

I regularly schedule client's bankruptcy filings two days before the trustee sale is scheduled to occur. That gives me time the next day (without having to rush into the office at 8am if I filed the prior day) to get notice to the trustee handling the sale to stop it. By doing it that way you get the most amount of time in your home to save money to move into a rental house or apartment.

The timeline in Nevada is as such: File BK day 1, 4-5 weeks later have 341 meeting, 1-2 weeks later get Motion for Relief from Stay to continue foreclosure, 2 weeks later have hearing on MFRS, 2 weeks later order approving MFRS is entered/noticed, 1-4 weeks later trustee finally notices sale date, 26 days pass from notice date until sale can occur, house is sold minimum 12-14 weeks from date of filing. Without paying the mortgage or expenses relating to the home, the client can save 3 months of those payments to move.

--William

[sunkinsc]

Great, thx for the responses. I will sleep better now for sure

[sunkinsc]

What about if the wife had filed a Chapter 13 but then withdrew 10 months ago, does that disqualify us from filing a Chapter 7? We have never filed before. After seeing the budget for the next five years we knew we would fail it so we had the attorney cancel the Chapter 13, does that pose a problem to file a Chapter 7 now?