Motion by my mortgage lender

[doncrick]

I have a hearing that I have to attend for my Chapter 7 bankruptcy and was hoping for some helpful advice, of course when you file for Chapter 7 pretty much everything you own is assigned to the trustee for the court and put under a "stay" would it be in my best interest for the court to release my home and property and this point back to my mortgage lender, I am about $700.00 behind on payments though, so my thinking was as long as I have the 'Stay" it would be in my best interest for it not to be released yet. Any advice would be greatly appreciated..

 

[adjusterjack]

What does your lawyer say?

 

[latigo]

I have a hearing that I have to attend for my Chapter 7 bankruptcy and was hoping for some helpful advice, of course when you file for Chapter 7 pretty much everything you own is assigned to the trustee for the court and put under a "stay" would it be in my best interest for the court to release my home and property and this point back to my mortgage lender, I am about $700.00 behind on payments though, so my thinking was as long as I have the 'Stay" it would be in my best interest for it not to be released yet. Any advice would be greatly appreciated..

For starters the Trustee is not "for the court".The Trustee represents the interests of the unsecured creditors and functions under the auspices of the executive branch of government, to-wit: the Department of Justice - not the judiciary.

Secondly, regardless of your "best interests" you will have no say as to if and when the automatic stay is lifted.

An arrears of $700 in this day and age is peanuts! Have you considered converting to a Chapter 13 and perhaps avoid foreclosure?

 

[doncrick]

Mortgage Lender motion in Chapter 7

Not in foreclosure at this time and never plan on that again (good Lord willing) had to let a Chapter 13 get dismissed not a discharge because the payments were getting outrageous and couldn't make them, managed to climb my way back out of foreclosure status on my home somehow and ended in Chapter 7 because of unsecured debt (mainly credit cards) that I finally had to deal with.. The attorney that i had during my Chapter 13, of course I found this out after the fact was more worried about losing everything he owned much less to worry about his clients.. I filed my Chapter 7 "Pro Se" I have always tried to be a responsible person and pay my bills and be smart about credit but things sometimes happen beyond your control..

 

[despritfreya]

The automatic stay in your Chapter 7 will be lifted, as it relates to you, the moment you get your Discharge regardless of what happens at that hearing. If you are only $700 behind and wish to keep the home, get it current. A Chapter 7 does not help you save a home and it is unlikely that you have a "defense" to the Motion.

Unless the entry of your Discharge and/or the closing of your case has been delayed, it is very unusual for a lender to file such a motion if the borrower is down by some insignificant amount ($700 is insignificant).
So, how long has it been since you filed the Chapter 7 or, if you went from the 13 to the 7 how long has it been from your original filing date?

Des.

 

[doncrick]

Mortgage lender( Not Reaffirming loan) Chapter 7

Thanks for the reply I filed the Chapter 13 on April 29th of 2015 after about a year I let the 13 get dismissed filed the Chapter 7 on February the 2nd of this year and after this hearing today i am basically 'screwed" my wonderful lender "Farm Credit" from what i can tell now will not enter into a reaffirmation agreement, so what could my options be at this point,greatly appreciate any advice, I'm only about $700.00 behind can they legally foreclose on my home?

 

[despritfreya]

. . . after this hearing today i am basically 'screwed" my wonderful lender "Farm Credit" from what i can tell now will not enter into a reaffirmation agreement, so what could my options be at this point. . . I'm only about $700.00 behind. . .

You are not screwed. Just get the payments current. As far as I know (and I could be wrong), unless you are in the 11th Circuit, stay and pay is the rule so there is no requirement to reaffirm. The 11th Circuit covers Georgia, Florida and Alabama. And, even if you are in the 11th Circuit, it is highly unlikely that your lender wants your home. It wants its payments so just get it current. Contact the lender to find out EXACTLY what is owed.

Des.

 

[doncrick]

Is there any kind of motion that I can file to try and stop any of this at this point?

 

[FlyingRon]

Sorry, if he's in an undischarged chapter 7, he should not be paying anybody without authorization. Stay or not.

 

[doncrick]

Thanks again for the replies, from what I gather at the day of the hearing and the statement by my mortgage lender's (not so nice) (I had another word in mind but I will play nice) attorney they were going to foreclose on the home and my lender would not enter into a reaffirmation agreement, they pretty much made me feel there was nothing I could do about it. I'm in Tennessee and I guess I will need to speak with a local attorney, when I filed my petion I was exempting my home which I thought would protect me from losing it, my wife and I have pretty much decided if we can find a buyer we'll sell the home and move to Florida which is what we were planning to do anyhow..

 

[latigo]

Is there any kind of motion that I can file to try and stop any of this at this point?

No, there isn't "any kind of motion" you can file. There is no need as the Section 362 automatic stay order that become operative at the time of the original filing will remain in effect until the court removes it. Which is what the mortgage holder is seeking as per its motion to lift the stay.

What you need to do is to pay attention to and follow the expert advice provided by "despritfreya"! Placate the mortgage lender by bring the payments current. But you cannot expect those installments to continue to accumulate and avoid an eventual foreclosure. Savvy?

 

[doncrick]

I've had "fits" with my lender the past 2 1/2 years, at the point just gonna try and sell the home,our painting business is to seasonal in this part of Tennessee and ready to be out from under this mortgage with them..

 

[latigo]

I've had "fits" with my lender the past 2 1/2 years, at the point just gonna try and sell the home,our painting business is to seasonal in this part of Tennessee and ready to be out from under this mortgage with them..

Make up your mind.

First you ask whether it would be in your bests interests to oppose the mortgage holders motion. Then you want to know if there is any of motion you can file to prevent the lifting of the stay order. Now you want out from under the mortgage because it is giving you "fits".