How Long Until I Have to Leave House in Calif?

[helpme2010]

I posted part of this in another section but still no answer.

My last payment of a forebearance plan is due next week, but I am getting ready to file BK then as well. I was in foreclosure status then got a forebearance plan with a reduction payment. I have been making all payments but will not make my final payment as I will be going BK.

How long can I expect to keep this house before I have to leave? I am in California.

I am guessing everything stops during the BK process, but once its discharged, how much longer will I get to stay in my home? I need to plan when to find a new place.

How long will the entire BK take?

[CanBreathe]

First of all, good luck on trying to make plans. Once this starts happening you have to fly by the seat of your pants. You probibly haven't received any responses because there are too many variables. Who is your lender? How many payments are you in arrears? Are you in Riverside county where there are a ton of repos? Just because you file BK doesn't mean everything stops.

We filed BK. About 6 weeks later we had our 341 meeting. Approx 60 days later the BK was discharged. In the meantime, our lender requested a stay and continued on with the foreclosure proceedings.

Several things can happen depending on your lender. Some lenders won't even start anything until you have missed about 4-6 months payments. I have heard of people milking the system and promising the lenders payments only to drag it out.

Each lender is an education and you have to feel your way.

Sorry I couldn't be more concise, but it's too difficult with too many variables.

[bulletproof77]

Last payment 11/08. BK filed 04/09, discharged 08/09. NOD received 11/09. Notice of Trust Sale received 01/10, property sold back to bank 03/08/10. Locks changed 03/12/10. Property resold to new buyer 07/10. Bank of America/Southern California..Owed 210K, property bought back by bank for 210K, resold to new buyer for 104K..Over 50% upside down, I think I made the right move...