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    lsblpn's Avatar
    lsblpn Posts: 33, Reputation: 1
    Junior Member
    		  
    #1

    Dec 9, 2012, 04:57 PM
    Slowing down a foreclosure
    My Mortgage has just been referred to an attorney for foreclosure by my bank. I have previously filed chapter 7 in which the home was included. I cannot afford this home (even if they would give me a modification, which they would not). I am prepared to give the home up. I am scrambling to arrange for another place to live, but I need more time. Can anyone recommend how I might slow down the foreclosure process to give me time move. If I can buy two months I should be fine.
    I live in McDowell county in NC.
    Larry
    ballengerb1's Avatar
    ballengerb1 Posts: 27,378, Reputation: 2280
    Home Repair & Remodeling Expert
    		  
    #2

    Dec 9, 2012, 07:23 PM
    If they just recently told you they were going to foreclose you have many months, maybe a year before it happens. Just stay in the home, do not move out or abandone it.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #3

    Dec 10, 2012, 07:11 AM
    I agree, if it just went to an attorney, it will be several months at fastest and still most likely up to a year. But if this is included in the Chapter 7, why is it still going into foreclosure
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
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    #4

    Dec 10, 2012, 07:54 AM
    Quote Originally Posted by Fr_Chuck;
    ... if this is included in the Chapter 7, why is it still going into foreclosure
    Because the OP is behind on the mortgage payments. Evidently the bankruptcy is done; the discharge granted; and so the Automatic Stay is no longer in effect. The only effect of the bankruptcy now would be that the lender may not seek a deficiency judgment.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #5

    Dec 10, 2012, 07:56 AM
    He was not clear about the bankruptcy, I assumed he had recently applied chapter 7. But yes if it was previously listed that is correct
    lsblpn's Avatar
    lsblpn Posts: 33, Reputation: 1
    Junior Member
    		  
    #6

    Dec 11, 2012, 01:25 PM
    AK is bang on. Chapter 7 has been discharged a while ago, tried to get a loan mod and chase is just toying with me. This was to be a two income home, only one now and can't (never should have thought I could) afford the $1200.00 a month payment. Walking away to start over debt free, and hopefully after licking my wounds will be smarter from now on. Good to know I have time. Just need a few more months and will have my new place ready to go.
    Can anyone tell me once they give me the 10 day notice to vacate, what I do then (besides get out). Do I have to meet with anyone and turn over keys or anything?
    Larry
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