order discontinuing action canceling lis pendens ... re-open timeline ?

[geetee12345]

I live in New York ...my house WAS in foreclosure , i was approved for a loan modification so i received a order discontinuing action canceling lis pendens, i am now falling behind again and received a NOD , when they reopen the foreclosure case will it again take years or will it be expedited and I'll have to move much sooner ? In the meantime after receiving the NOD in the mail I have filed for forbearance , i heard filing BK isn't everything its advertised to be as solution

 

[FlyingRon]

Depends on how much time passed, but I suspect you're going through much of the process again. It takes about a year from the time the refile in court until the sale occurs.

If you can't afford the payments, you can't afford the payments. The only thing bankruptcy may help there is if the reason you can't pay the mortgage is because of your paying other debts. Otherwise, the lender rightfully will get the stay lifted and continue on with the foreclosure.

 

[geetee12345]

Depends on how much time passed, but I suspect you're going through much of the process again. It takes about a year from the time the refile in court until the sale occurs.

If you can't afford the payments, you can't afford the payments. The only thing bankruptcy may help there is if the reason you can't pay the mortgage is because of your paying other debts. Otherwise, the lender rightfully will get the stay lifted and continue on with the foreclosure.

Thx for the quick feedback I applied for a forbearance in that my financial situation HAS changed for the better ... note is about 7 months behind and the NOD says to come up with like 25K ... which is not possible