BK & MTG Co asking for lift of automatic stay ??

[paw67]

I wasn't sure which was the best place to post this, the bk forum or the foreclosure forum so I decided to post in both just in case. Any help or insight it appreciated.

 

My state is IN. Divorce was finalized earlier this year. My 3 kids & I are still living in the house but it is in foreclosure. Sheriff's sale was set for August but ex H filed bk7 which held off the sale. Attorney for mortgage co. has filed a motion with the bk court to have the automatic stay lifted and abandonment of real estate. EX H must respond by the 16th if he objects or bk court may make a ruling. Letter says if he responds a hearing will be set.

 

Issue is kids & I are not able to find any place to live until the end of Sept or first part of Oct (no funds available until then). If he does not respond will we just be required to be out immediately or will it go back through the sheriff's sale process? Another question even if they get the go ahead from the bk court would they need to get the go ahead from the local court where the foreclosure is to get possession of the residence? Can we respond to the bk court asking for 45 days (til the end of October) to vacate residence?

 

We have both tried looking online and searching to find an answer or get some info but haven't had any real luck so far. Any thoughts or suggestions would be greatly appreciated. EX H filed pro se so he has no attorney to consult.

 

Thanks for your help.

Patty

[dookiedog]

Will your Ex-husband respond to the bank. If not then will you not try to file bankruptcy. They will reguire another sale date. I don't think it would be that quick as a week. It might generate a sale date in Oct.

[paw67]

Will your Ex-husband respond to the bank. If not then will you not try to file bankruptcy. They will reguire another sale date. I don't think it would be that quick as a week. It might generate a sale date in Oct.

I have already filed bk and my 341 hearing is coming up. Because I am not on the mortgage it did not stop the sale. EX will respond just isn't sure exactly how to respond. The letter said in a response he needs to list the reasons why. He just isn't sure that the reason of me & the kids living there until the end of September or mid October until we are in a position to move will be enough of a reason for them to hold the process off.

 

Any more thoughts?

 

Patty

[Jerseygirl500]

The stay will likely be vacated on the 16th. The mortgage company will then move ahead and schedule a new sheriff's sale date with the court, who will notifiy you (probably a couple of more weeks before you are notified. You will be given at least 30 days notice prior to the sale date. They will not sell the house without giving you prior notice of the sale date.

[paw67]

The stay will likely be vacated on the 16th. The mortgage company will then move ahead and schedule a new sheriff's sale date with the court, who will notifiy you (probably a couple of more weeks before you are notified. You will be given at least 30 days notice prior to the sale date. They will not sell the house without giving you prior notice of the sale date.

Thanks Jerseygirl500. I was hoping we wouldn't be required to vacate immediately. We are in the process of trying to find another place to live but it is hard to find something in the school district we are currently in. Looks like locally they are currently scheduling sheriff's sales for November so we should be ok till then.

 

Thanks again for your reply.

Patty