Did not reaffirm,2nd lien holder is moving forward w foreclosure, how long do we have

[bk2011]

We did not reaffirm our mortgages on our home. We recently got notice that the second lien holder wants to remove the automatic stay on our house. My attorney said we have about 30 days for the stay to be removed then another 30 for foreclosure and notice for us to leave the property. Is that true? I thought Obama passed something to give people more time to leave. Not sure though if that is true for people who filed ch 7 bankruptcy.
Thanks for your reply,
zA

[justbroke]

Whether the second mortgage holder will actually foreclose is about anyone's guess. Almost all leinholders are best served by filing a motion for the relief from the automatic stay (RFS) if not solely to make sure they are not violating the stay or getting in the way of the Chapter 7 Trustee. If this is a non-judicial sale, power of sale provided in the Deed of Trust, it could be rather difficult to avoid/delay.

Were you expecting something different? I guess that for Missouri, under a Power of Sale in a Deed of Trust, the foreclosure can happen rather quickly. What are you trying to do? A foreclosure can be as quick as 30-45 days in Missouri with 30 days for a total eviction -- and you don't want to actually be evicted because that WILL make it difficult to rent from most places since an eviction (judgment) will be in your credit profile.

See if your attorney knows what is "really" happening with foreclosures in your County in Missouri. Did you receive a notice of default yet?