Real Estate in Bankruptcy

[tuguyton]

What is the name of your state? Clorado

I want to sell my home before it is forclosed on. I am 4 months behind and I just recenttly filed chapter 7 bankruptsy and included the house. However, they allowed me to keep the house and continue making the monthly payments. The first lein holder made a request to the Bankruptcy Trustee for a relief from stay so that they can foreclose on the home. I called the Bankruptsy Trustee here in Colorado and he sayed that he was not ready to release the home from the bankruptcy so that I could sell it. He told me I would have to file for abandonement. What is the process and should I use a lawyer versus doing it myself. If I filled for abandonement would I be free to sell the house without worying about the Bankruptcy Trustee unraviling the transaction later. Also, would the relief from stay that is granted to the first lein holder accomplish releasing the home from the bakruptsy so that I can sell it as well. Tim

 

[seniorjudge]

What is the name of your state? Clorado

I want to sell my home before it is forclosed on. I am 4 months behind and I just recenttly filed chapter 7 bankruptsy and included the house. However, they allowed me to keep the house and continue making the monthly payments. The first lein holder made a request to the Bankruptcy Trustee for a relief from stay so that they can foreclose on the home. I called the Bankruptsy Trustee here in Colorado and he sayed that he was not ready to release the home from the bankruptcy so that I could sell it. He told me I would have to file for abandonement. What is the process and should I use a lawyer versus doing it myself. If I filled for abandonement would I be free to sell the house without worying about the Bankruptcy Trustee unraviling the transaction later. Also, would the relief from stay that is granted to the first lein holder accomplish releasing the home from the bakruptsy so that I can sell it as well. Tim

Delete two of your triple posted thread, then ask a legal question.

https://forum.freeadvice.com/showthread.php?t=324049

https://forum.freeadvice.com/showthread.php?t=324050

 

[bigun]

If you have any signficant equity, you'd do well to use a lawyer.

 

[tuguyton]

Thanks for the recomendation.

What about, if I filled for abandonement using a Lawyer would I be free to sell the house without worying about the Bankruptcy Trustee unraviling the transaction later. Also, If the relief from stay is granted to the first lein holder would that accomplish releasing the home from the bakruptsy so that I can sell it as well. Tim