One Variable Down - Our Sale Date Set

[backontrackOH]

It has been a long haul these past several months. We wondered if it would ever happen. We have been renting since July because we thought it would happen a lot faster. Our sale date has been set for 11 Jan, 2008. Still a ways off, but we still have so much to remove from the house.

My question pertains to the time line after the sale. We have not filed bankruptcy yet. We have a whole executor/inheritance thing going on, but I'll leave that to another post. With the sale date looming, and not having filed, what can we expect after the sale date (we are in Ohio)? I know we have no redemption period, and we plan to have everything out before the sale day. I am just wondering when we will have no choice but to file?

If we are not in bankruptcy after the date of sale, I think I understand that it would be in the best interest of the second (and maybe first) mortgage holders to file a lawsuit against us for what is owed. About how long after the sale date until that happens? Could it possible happen before the sale date? Can we still file bankruptcy after a lawsuit has been filed? Any answers to my many questions are greatly appreciated.

[rrockinggramma]

You will still be able to include any and all deficiency balances after a lawsuit is filed. I would just really read all of the mail etc and maybe check out your legal news for postings of default judgemenets against you. The foreclosure will be on your credit report even after you file BK. I would think that you would have a couple of months after the final sale is done before the creditors start coming after you with both guns blazing.