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#1
05-07-2003, 06:47 PM
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 failure to make required paymentsWhat is the name of your state? New Jersey [SIZE=3]I failed to make 2 payments to my 2nd mtg, now they want to "vacate stay", while I wait to see my attorney, what might this mean?[/SIZE] |
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#2
05-07-2003, 07:02 PM
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| It means they want the BK court to lift the automatic stay so they can go forward with foreclosure proceedings. Is this a Ch7 or a 13 ?
__________________ "Knowledge is Power - use it as you see fit ! I am not a lawyer or a member of the legal profession. My advice is based on research and experience, my own and others, some who practice law. You decide for yourself what actions you do or do not take from my advice. |
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#3
05-07-2003, 07:29 PM
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| this is a chapter 13, does this mean I will lose the house, have to leave it? |
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#4
05-08-2003, 09:01 AM
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| Its possible, yes. If the relief from stay is granted, they'll go thru with foreclosure. If you're not making your CH 13 payments, you risk getting your BK dismissed too, so if there's any way you can catch up or negotiate with your lender now would be the time !
__________________ "Knowledge is Power - use it as you see fit ! I am not a lawyer or a member of the legal profession. My advice is based on research and experience, my own and others, some who practice law. You decide for yourself what actions you do or do not take from my advice. |
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