Just filed chapter 7 Dec. 1 in non-judicial state. 341 Jan 7th. Not reaffirming mortgage. Bank filed for relief of stay Dec 6. Any tips on stalling out foreclosure as long as possible. Goal is to build up as much cash as possible and then rent.
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When did you stop paying your mortgage?"I DECLARE BANKRUPTCY!" Ch 7 Filed 7/15/11 * 3 Minute 341 8/19/11 * Discharged 10/20/11 -
Wow -- that didn't take them long! You can attend the hearing for the relief from stay motion and/or file an objection, but you'll likely have to come up with a legal reason to do so. Talk with your attorney about your options there.
You could try getting on the modification rollercoaster...that's been known to stall the process for some people.
If you can't stall it, I'd say you have until mid-Feb at the absolute least...possibly mid-April if you can block the petition. I don't know how redemption or eviction works in your state, but you might have considerably longer than that, especially if there are a ton of foreclosures in your area and the calendar is backed up.DH laid off 3/08 | Last mortgage payment 12/09 | Filed Ch13 5/10 | Converted to Ch7 7/10 | 341 held 8/10 | AP filed by secured creditor 10/10 | Ch7 discharged & closed 11/10 | Foreclosure 10/2011Comment
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Stopped paying mortgage 6 months ago. Redemption period is 6 months in this state so i am guessing worst case is about 8 months but would like to get a few more months on top of that.Comment
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Just reviewed the mortgage company's motion to grant relief from stay. Mortgage has been transferred three times since origination in 2005. There are attached copies of each transfer as well as a copy of the original loan document with my signature on it-all were obtained from the county clerks office. Would there be any chance of pursuing the "produce the note " strategy to delay foreclosure through the bankruptcy court. Does this boil down to a question of the actual original signed copy being in the banks possession or do the photocopied notarized copies obtained from the county court suffice to prove ownership of the mortgage and therefore justify foreclosure?Comment
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Bankruptcy court won't deal with the 'produce the note' that 's a state court foreclosure issue.Comment
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