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In state of Florida..my Bankruptcy Chp 7 was finalized in March 2010, how long can I stay in my home before foreclosure is filed again?

In August 2009 my lender filed foreclosure on my home in our districts courthouse; I did the court required mediation with the lenders attorney and a court mediator which didn’t go so well because of my debt to income ratio. Needless to say in December 2009, I filed for Chp 7 bankruptcy to try and fix the mess of debt and avoid being sued by creditors. Two weeks after officially filing the bankruptcy, my mortgage lender decided to offer a loan modification to exclude the loan from the bankruptcy. I did not modify due to the offer not being something I could afford. My Chp 7 bankruptcy was finalized March 23, 2010 and now don’t know what to expect from my mortgage lender.

When I told the bank I would be declining the offer to modify they advise that after the bankruptcy was completed they would attempt the re-modify the loan before refilling the foreclosure. The bank did tell me not to leave the home until I had a sale date on the property because I would still be liable for the property should something happen in my apartment.

Since banks aren’t always honest, I want to get someone’s option on this, if for the most part does the mortgage lender try to work a deal before refilling the foreclosure on a property? If they did or didn’t, how long before the foreclosure started again after the bankruptcy in the state of Florida and is there any way to know how long could I be living at this property before all is said in done.
Confused

I really appreciate your feedback! Smile

adonis · Posted: Tue Mar 30, 2010 9:06 pm Post subject:

Welcome VM,

As far as I can understand, you haven't reaffirmed the loan with your lender while you were in Chapter 7. In that case you are personally not liable for the loan. You can stay in the property unless the lender forecloses it. After the foreclosure, the lender will give you a notice to leave the property within 3 days. You'll have to move out of the property within that period of time.

Guest

Thanks for your reply. How long would the foreclosure take in Florida?

smithsussane · Posted: Thu Apr 01, 2010 12:29 am Post subject:

Hi Vm,

As far as I know, it usually takes around 180-200 days in order to complete an uncontested foreclosure in Florida. However, the process can be delayed if the borrower contests the action, seeks adjournments of hearings or files for bankruptcy.

Feel free to ask if you've further queries.

Sussane

Guest

In florida it is currently taking about 2 years to actually be evicted from a home. Once you have filed ch 7 then the bank legally ownes the property and you are not any longer responsible for it. You can continue to live there and bank the mortgage money until the bank comes after the propertry it takes about 2 years or more depending on the lender..

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In Florida,Bkty Ch.7 discharged March, how long before..

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