Nov
04
Ch. 7. Motion to lift stay(mortgage) In Arrears.How long do we have?
By
I am three months behind.. Filed chapter 7 two weeks ago. I have gotten 1 letter when i was 2 months behind giving me 30 days to pay or the foreclosure process would begin.( According to that it would have started on march 9th) I don’t mind leaving. I feel grateful that we were allowed to stay as long as we have…but…when will we be out? What’s the time line? What’s the process the lender needs to go through?
Sell House Quick
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1 Comments
July 26th, 2009 at 4:46 pm
This completely depends on your state laws regarding foreclosure.
In some states foreclosures can happen pretty swiftly, i.e., within weeks. In other states it can take 6 months or more.
In general, if you live in a “judicial foreclosure” state it will take longer; in a non-judicial foreclosure state the process is generally considerably more brief.
Your bankruptcy attorney will be familiar with this. Give his or her office a call and ask.