Question about foreclosure - desperate to know, please answer!

[tjsmiley]

I filed Chapter 7, and it should be discharged next week if it follows the normal timeline...no asset case. My house is about $20,000 underwater and I included it in the BK.

Wells Fargo filed an appearance/request for notice. They never filed to lift the automatic stay.

My question is....knowing that they filed the request for notice, what is the timeline for them to initiate foreclosure on my house? My attorney said something about a 90 day period from the filing date, and I should move out before that time expires, which would be mid July...however, since it's discharged next week (most likely) does that shorten my time in the house?

I need to stay as long as possible. I am confused by this whole process!! Btw, I'm in Texas.

[debee]

The timeframe your lawyer refers to is your discharge date. It's usually 90 days from filing.

In your state it looks like the minimum time to complete a foreclosure sale is 60 days. There will be no surprises. You're going to see it coming from a mile away.

If it's an option, they will foreclose non-judicially because it's faster and cheaper. To start that process they're req'd by law to send you a letter. From time of receipt until foreclosure sale is roughly 60 days - IF, they proceed without delay.

There are people on this forum who have been in their houses rent-free for over a year. I guess a lot depends on location and lender.

Of course, if you're still paying your mortgage and want to stay, just keep paying. Even though the debt will be discharged, you are still the owner.

You can find more info about foreclosure in your state here.

[tjsmiley]

Thank you!