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07/04/2009

Chapter 7 Stop Foreclosure Answers

Resolved Question: Forecluse Sale date is in 2 months, can you still file petition for Chapter 7 bankruptcy?

If the foreclosure sale date is in 2 months, do you still have time to file bankruptcy?.. I know it should be avoided at all costs, and blah blah .. but if there nothing else to do, and that's the only option.. can you? How much does it cost? I'll give u some background info... -14 months owed. (about $ 20,000) Yes she delayed trying to put together the money.. BIG MISTAKE.. but moving on... -Nothing Saved. -Credit is bad -Working, earning well... able to pay the house if start from scratch. *She had breast cancer and had to stop working for a long period of time. Anything you say will be appreciated. Thank you for your help guys... more

Resolved Question: foreclosure question?

W e are currently living in a house that is already in foreclosure...the condo is under my name.but my husband was the one paying for it...he stopped paying a year ago and we are currently trying to do chapter 7,and now he wants to keep the condo...we tried to worked out with the banks but they refuse to lower the interest...after a year of not paying is it possible to stay save my condo? more

Resolved Question: Which Bankruptcy do I need to file?

a chapter 7 or a chapter 13? I have a sale date on my property coming up...loan modification is out of the question..I have credit card debt that I cannot and have not paid for..and Im ready to file..please tell me which one will stop (Temporary..my foreclosure until I have alternatives?) more

Resolved Question: Advice for a business owner going out of business?

Two years ago my step-mom started a small business. She owned her condo outright, so took out an equity loan to start this business. Because of the failing economy, she must close the shop. Since the mortgage is a result of the purchase of her business should she stop making payments on the condo and allow foreclosure - or file for chapter 7 bankrupcy ? She has had the condo listed for sale and it has lost much of its original value. She would like to move out of the area, so letting the condo go is preferrable. Help - she's looking to me for advice and I have no clue. more

Resolved Question: can you help me edit this paragraph please! check grammar too.?

Bankruptcy is a legal proceeding in which people who cannot pay their bills can get a fresh financial start. Federal Law provides the right to file for bankruptcy and all the bankruptcy cases are handled in federal court. Filing bankruptcy immediately stops all of your creditors from seeking to collect debts from you, at least until your debts are sorted out according to the law. There are many effects on you once you filed the bankruptcy. Such as, eliminating the legal obligations to pay all of your debts, it stops foreclosure on your house, prevent repossession of a car, and restore or prevent termination of utility service. There are different types of bankruptcy that one can file; Chapter 7 (Straight Bankruptcy), Chapter 11 (reorganization), Chapter 12 (reserved for family farmers) and Chapter 13 (Adjustment of Debts). The most common bankruptcy case is filed under chapter 7. more

Resolved Question: We filed a chapter 7 bk and was discharged but kept paying the mortgage. We have stopped. ?

Do we have to go through the foreclosure process to get the house out of our name and do we have to do a short-sale with the mortgage company. Do we gain anything? more

Resolved Question: I need help with writing up a pleading for a Motion to Extend Stay on a Foreclosure. Good Samaritan Attorney??

I work at an Attorney's office in Northern/Bay Area California for a family law attorney. However, I need Bankruptcy/Foreclosure help and I don't think the Bankruptcy attorney at my office is too keen on helping for free. So I've done all the research I can but I would like some help please, for those of you willing to give some legal advice. My parents ligitimately were granted their Chapter 7. However, my dad has many health problem's and has been in and out of work and hospitals lately, not to mention he retires this year. My mom is younger but has had back problems, cancer scares and had been recently attacked and physically assaulted and can't work at night due to trauma. They ligitimately could no longer afford to pay their home. Although they have been trying hard to find ways to rent or lease a home ever since they knew their home would foreclose, they have been having trouble as their creditor Motioned for a relief from stay about a couple of months ago. According to public records they received their Notice of Trustee's Sale on Aug 14th, 2008, but I'm not sure the date of the sale (they have 3 weeks??). I've prolonged typing up a Motion to Extend and am still not only unsure of how to type it up, since I am only an Attorney's assistant 6 months long. Not only that, I'm not sure if it's a Motion to Extend that I should file. I'm also interested in filing a Request to Produce Documents if I still hve time to seek proof that the lender physically has possesion of the note. Do I have time to file that if the Trustee's Sale has been issued? My guess is my Motion to Extend will be formatted as a Declaration declared by my father with Exhibits as to why he needs and requests the motion (two children still living with him at home, both in college; one grand daughter firmly emotionally attached to grandparents, therefore having hard time finding new home to accommodate them, children, and granddaughter... their inability to work steadily due to health problems and proof of hospital stays and health conditions; my parents gave their stimulus check to my sister for the baby and to help her get a car to commute to school because she'd been walking and taking the bus this whole time, etc.) Ladies and Gentlemen, if I were to want to file this by tomorrow or Friday morning, do I stand a chance? Am I filing what I need to file correctly? I am but a mere college student myself - my job at the law office is only 2-3 days a week otherwise I'd financially help my parents myself and get them the proper legal help they need. They had earlier consulted with a shady legal "advisor" in which the preliminary hearing recognized and allowed them an extension to file their paperwork. But currently, if they are to get kicked out, they don't have much options where to go, I can't see my family out on the streets - no real local family for help, I live in a tiny studio with 500 sq. ft. to call my own.... my sister is still interning and will graduate shortly, having regular garage sales at home to help pay for gas and diapers, and my brother stopped working 20 hours less to finish his last transfer year in college to become a police officer or firefighter. Please help if you can and anything that you could reliably offer would be greatly appreciated. I know this was long but I've been up for hours typing this and I need a helping hand so bad. What can I offer in return? I photograph.... I do freelance graphic design.... just ask. Thanks and I appreciate and anticipate your response. -S more

Resolved Question: foreclosure,deed in liu, or bankruptcy? Also will I lose my job?

We are three months behind on our interest only mortgage payments. It was difficult this last year since my husband and I lived in separate places due to work and had seperate living expenses. We paid a high mortgage payment on the house and rent for the apartment. Now we had decided to file for bankruptcy and stopped making payments, but now I find that I may lose my Security clearance and job if I file bankruptcy, and I'm under contract with my job. I have yet to clarify that, but my real question is, is foreclosure/deed in liu better than a bankruptcy? A government financial advisor stated foreclosure would be much better than a bankruptcy chapter 7. We want to open up businesses in the next 3-6 years, and buy another house in that time frame also. After filing bankruptcy it was projected that our credit score would go up 50 points right away. Will a foreclosure really kill our credit by 100-150 points and if so, how soon can we start seeing an increase with responsible habits? more

Resolved Question: Can a farmland foreclosure be stopped by filing Chapter 12 bancruptcy?

I know that chapter 12 is for farmland, vs Chap 7, 11, or 13. This is for a school assignment! Thanks! more

Resolved Question: Chapter 13 bankruptcy and property?

Can someone help me? I am considering filing Chapter 13. I have an idea on the difference between Chapter 7 and Chapter 13. I basically have two concerns. 1. If I start to file for Chapter 13, whether I get approved by the courts or not, will that keep creditors from pursuing legal action to garnish wages and/or put a lien on my home? Can they continue to try and pursue legal action to collect during the filing process before it is approved by the courts? 2. I am in foreclosure with my home but currently working with lender for either a repayment plan or loan modification to stop foreclosure. Foreclosure process stops once payment option worked out. Do I have to declare my home when filing Chapter 13? Will I lose my home? I don't plan on doing anything until I know what the mortgage company says. Declaring bankruptcy before I finish the work out program with lender will continue foreclosure process. I'll lose my home for sure. more

Resolved Question: Chapter 7 bankruptcy questions and Foreclosure.?

We stopped payment on our mortgages and credit cards in December per lawyers suggestion. Our house is not in foreclosure yet but they call 3x's a day. I have not hired a lawyer frankly because I can't find one I am satisfied with. Have been to 7. Each one tells me something different and I would like straight answers. Here are my questions. 1. How long after filing bankruptcy can you stay in your house legally before they force you out? I'm in Michigan. 2. How long before a Sheriff sale sign gets put on your door do you have until they force you out? Basically I want to know what my options are in regards to filing chapter 7. I want to stay in the house the maximum amount of time. I also do not want to be sued by any creditors in the mean time. I'm sensing a catch 22 here. Would like knowledgeable answers not smart @ answers thank you. more

Resolved Question: Can I cancel a chapter 7 bankruptcy?

I have filed for a chapter 7 bankruptcy yesterday to stop foreclosure on my only home. I wonder, if I will get enough money to cure this debt, can I cancel the bankruptcy, or is there anything like that, please let me know more

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