Relief of Stay? Help with how this affects dates...

[sdw]

My attorney filed our Chapter 7 on 8/21, and a couple days later, I received a copy of the NOD(Both certified and regular mail) that was filed on 8/18.

I thought it was a scam at first, as the loan amount was wrong, they misspelled my wifes name and some others and it was from a company called California Reconveyance. I called and their messaging system gave me the # to my lender, so I assumed it true.

I called my lender the next morning(WAMU/Chase), and they were doing a software upgrade so he had no information for me. I contacted them this morning, and found out that it was real, and they also filed a Relief of Stay on 8/27.

Our hope has been to try and get through the holidays before moving for several reasons, but it looks as though WAMU is pushing to get this foreclosure going.

I have gone through the stickeys on timelines and my 341 is scheduled on 9/30. My wife and I are pretty stressed on we are just not sure when we should be planning for to be out of the house to lessen the impact to our children. We just want to be able to plan it.

Based on the timelines posted on this site, is it safe to assume that since the NOD was filed on 8/18, and if the courts allow the Relief of Stay, does that mean 90 day from the 8/18 filing until we get the Notice of Sale?

Thanks for any advice or input.

SDW

[justbroke]

Our hope has been to try and get through the holidays before moving for several reasons, but it looks as though WAMU is pushing to get this foreclosure going.

Just because they filed a Motion for Relief From the Automatic Stay (MFRS), doesn't mean that the actual foreclosure will happen any faster.

Filing the MFRS is procedural and they are required to do this in order to even talk to you about that loan. What will happen is, and the MFRS probably states, that once they get that granted, they will contact you to attempt to negotiate a forbearance, installment plan, or modification.

If you were not already in foreclousre before filing -- and even what I'm about to write varies by State -- they would have to go through the whole foreclosure process. So that means you got the NOD on 8/18, but it would be stalled until the MFRS is granted (it would toll at least). They have not even filed for foreclosure yet as your NOD was issued a couple of days before filing.

Based on the timelines posted on this site, is it safe to assume that since the NOD was filed on 8/18, and if the courts allow the Relief of Stay, does that mean 90 day from the 8/18 filing until we get the Notice of Sale?

This depends on your State. Since you're in California and it's probably a Power of Sale that they are exercising, they would wait 90 days after the expiration of the NOD. Again, I don't know if the Bankruptcy tolls the NOD meaning that the NOD period would need to be extended.

In all likelihood, you'll make it through December 31, 2009. Here's why. The MFRS takes 14-21 days to be approved by the court. There's a hearing set, I believe on the 21st day. So that's 3 weeks from 8/27 (or basically 9/21). Then if it's granted, the NOD kicks in and let's say they decide to just file the notice of sale after 90 days from the 9/21 date. That's already December 20th. Then it's 21 days for the sale and yada, yada, yada... you're into January.

If I were you... I would start packing one to two boxes per day (depending on your home size). That way, by December 21 (the end of the Notice of Trustee Sale period), you'd be 95% packed and ready to go. Trustee Sale would occur sometime in January (1/20/2010 or so), and you would be ready to go, or gone.

The Notice of Trustee Sale (the 90 days) is based on the cure period listed in your NOD. Generally, the NOD gives you at least 30 days to cure. So at worse, the NOD has a date of 9/30/2009 as the cure date before acceleration. Given that... I'm thinking, again, that you're into January before the first scheduled sale date.

[sdw]

Thank you so much for your response.

Our plan has been to pack a little every day to get ready. We allready had one garage sale and are consolidating weekly.