Compliance With Intent In Foreclosure

[feelingnutsy]

My lawyer advocates filing bk after foreclosure for the following reason---
he says that since I'm surrendering my house---and thus giving it up---the
trustee can tell me when I must move---which could be about 45 days after
filing bk before bankruptcy---which sounds like the period when the bank files
the motion to lift stay and it's granted.

Has anyone ever heard of such a situation before?

He says that once fc is over---the trustee doesn't really care what the
timeframe is---and that I would most likely gain more time in the house.

I'm having a hard time wrapping my mind around this idea---especially since
it would mean a double whammy on my credit report---for both bk and fc.
However---I'll be listing the two mortgages---1st with WF for $311,000---
and a HELOC with Wachovia for about $98,000---to remove lien/deficiency.

He seems to be representing my best interests---but I'm still a bit befuddled.

I'm in Virginia---a fast foreclosure state.

Thanks for any feedback.

[ryan]

My lawyer advocates filing bk after foreclosure for the following reason---
he says that since I'm surrendering my house---and thus giving it up---the
trustee can tell me when I must move---which could be about 45 days after
filing bk before bankruptcy---which sounds like the period when the bank files
the motion to lift stay and it's granted.

Has anyone ever heard of such a situation before?

He says that once fc is over---the trustee doesn't really care what the
timeframe is---and that I would most likely gain more time in the house.

.

Did you mean Foreclosure when you said Bankruptcy above?

If so, yes, I have heard similar opinion from lawyer I spoke to a few months ago. ...and I am in a slow FC state. Specifically, as I understood it, you would gain by filing as close to just before FC sale date as possible. Then the stay would add 2 to 3 months typically.

[feelingnutsy]

Thanks for the info---ryan---and this was new info
to me---and yes---I did mean foreclosure where I said bankruptcy---sorry.

[StartingOver08]

OP, one of our trustee's here in S Fl does the same thing - makes the debtor move out 30 days after the 341 if the intent is to surrender the home.

I think that is a shame, because the bank still has to complete the F/C process (takes a long time here) and the house rapidly deteriorates (think mold in hot, humid weather with no A/C).

But it seems to vary by each individual Trustee -

[feelingnutsy]

Thanks for the info---StartingOver08---
and hard to believe how arbitrary this decision is.