How long do we have after relief of stay granted???

[teadrinker]

Hi everyone.... Any help would be greatly appreciated. We received our BK discharge in December '09. We did not intend for our home to be included and had no idea that it had been discharged. We continued making payments on the house after the d/c for about 10 months. We received notice in September '10 that our loan had been transferred to IBM Lender Services or LBPS. It was during that time that we realized the debt had been discharged. We then stopped making payments. (We had completed the loan modification trial period before filing for the BK and then found out that it had been thrown out due to the filing. We were trying to reapply for the mod when the loan was transferred to LBPS.) We stopped making the payments deciding that we were probably better off with it being discharged because we most likely would not have qualified for the mod since my husband and I were both now employed, etc. and we were upside-down anyway.
So, we have been living "rent free" now for about 6 months. We received a notice that a hearing has been scheduled for April 13 for the relief of stay for the mortgage company.
My question is does anyone have any idea how long we will most likely have after that date before we have to be out? We were hoping our kids could finish out the school year. We have been looking for a rental home but there are absolutely none in this school district that fit our criteria. It's a very desirable district and homes get snapped up quickly.
Anybody have any experience with this mortgage company in this type of situation?
I did contact our attorney's office and was told that it could be 1 day or 3 months! Just was hoping there might be someone out there that might know something more specific. We live in Henderson, Nevada, by the way.
Thanks so much for any help you can offer,
Teadrinker

[helpmeout]

I haven't paid my mortgage in over a year. The bank got their relief from the stay in July. And I have not heard a word from them.

[newbie2]

The lender still has to follow your states foreclosure laws, even if they do receive a "relief of stay". Do a search for your states foreclosure laws and you'll get a much better idea of what you are looking at.

[tobee43]

The lender still has to follow your states foreclosure laws, even if they do receive a "relief of stay". Do a search for your states foreclosure laws and you'll get a much better idea of what you are looking at.

newbie...with all due respect...i think it depends on other things as well.......it's 3 years later for us......and STILL no foreclosure....unreal...according to the state laws the property is in....it should have gone up for sheriff's sale approx 2 years ago.

that's why we are thinking at this point something must have been amiss with the documents or something. so i think it may also depend on location, documentation etc.

[newbie2]

newbie...with all due respect...i think it depends on other things as well.......it's 3 years later for us......and STILL no foreclosure....unreal...according to the state laws the property is in....it should have gone up for sheriff's sale approx 2 years ago.

that's why we are thinking at this point something must have been amiss with the documents or something. so i think it may also depend on location, documentation etc.

Teadrinker should still take a peek at the states foreclosure laws to find out a worst case scenario. Guessing based upon others experiences (in other states, with different lenders) won't tell Teadrinker what he/she needs to know: How soon could it happen?

[teadrinker]

Wow! Thank you guys so much for responding. I'll definitely check out the foreclosure laws. I'm thinking the person I spoke with at my attorney's office may not have realized that foreclosure proceedings had not commenced prior to us filing. You guys are awesome -- I really appreciate the help!

[newbie2]

You're welcome Teadrinker. Good luck to you and your family.

[helpme2010]

Anyone want to trade lenders with me? My mortgage company put up the auction sale date right after my discharge. They gave me 2 weeks notice. I want one of those lenders that waits years before taking action. I am curious even if they do put up the auction date if they don't find a buyer and just let us live in the house for a much longer period.

[tobee43]

Anyone want to trade lenders with me? My mortgage company put up the auction sale date right after my discharge. They gave me 2 weeks notice. I want one of those lenders that waits years before taking action. I am curious even if they do put up the auction date if they don't find a buyer and just let us live in the house for a much longer period.

i do!!!!!!! i do!!!!

[tobee43]

Teadrinker should still take a peek at the states foreclosure laws to find out a worst case scenario. Guessing based upon others experiences (in other states, with different lenders) won't tell Teadrinker what he/she needs to know: How soon could it happen?

totally agree with that......and actually newbie...things are so odd out there...many states not even going by the laws......to complicate matters we have the judicial or non-judicial foreclosure states......and some states being BOTH!!!!!! so if your in one of the those states it can be longer or shorter depending on which what the bank decides to go....a good example of this is calif., which is actually both a judicial or non-judicial foreclosure state...however from what i have seen on this site their lenders perfer the later......

i would prepare for the shortest possible time.....we did.....and most likely three years later could still be there...but it was good to be prepared with a full exit plan....makes the stress of all this a bit easier to deal with.