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relief of stay, when to get out?

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    relief of stay, when to get out?

    Hi all,

    As mentioned in previous threads we are chapter 7 (now asset) and are surrendering our home. Throughout the forum we see many posters saying stay in the home as long as possible, etc. etc. It may take the lender a long time to forclose, etc. in some cases more than a year.

    I got a note today from our attorney stating countrywide had requested a relief of stay, we have 20 days to respond to the motion, and our county is taking 45ish days. So we should plan on being out of the house in about 60 days.

    Can anyone shed light to what actually happens (just concerning the home process) at this point?
    Filed 10/11/08 - 341 11/23/08 - Discharged 1/26/09
    2/19/09 Stipulation agreement reached w/trustee - Still awaiting Closed Status
    Check my blog at Steve's Bankruptcy Blog Watch day by day what happens with a PITA trustee! - Web Hosting by Broadband Hosting Web Hosting

    #2
    You asked for an opinion? You got one, get out when the Sheriff gives you 30 days notice to vacate. Other's are right, you can drag this on longer than you think. 'Hub
    If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.

    Comment


      #3
      Now that the relief of stay is granted, the lender can move forward with the foreclosure. If your home will be sold by the Sheriff, then keep watch on the Sheriff's site to see what date your home is being sold. That's around the time you need to be prepared to move. My opinion is to be moving out on or about the date of the Sheriff's Sale.
      Bankruptcy History:
      Chapter 7 filed - 10/12/2005 - Asset
      Discharged - 02/16/2006
      Case Closed - 11/08/2007

      A banker is a fellow who lends you his umbrella when the sun is shining and wants it back the minute it begins to rain ~ Mark Twain

      All suggestions are based on personal experience and research and SHOULD NOT be construed as legal advice as I am NOT an attorney. Always consult with competent counsel in your area with regards to your particular situation.

      Comment

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