 terockvam
Joined: 11 Nov 2009
Posts: 1
1.30 Dollars($)
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 Posted: Wed Nov 11, 2009 2:07 pm Post subject: How long can I stay in the house after filing chapter 7? |
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| My wife and I got our mortgage from Countrywide. They stopped accepting payments and now with the fees and everything we are $15,000 behind. If we file chapter 7 how long after discharge before we have to move out. With MN the time frame for foreclosure is 8 months, 2 months prior to the sherriffs sale and 6 months for redemption. Does this hold true for chapter 7 also or is it longer? |
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jenkin7
Joined: 04 Jun 2007
Posts: 4309
Location: Hawaii
681.19 Dollars($)
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| Posted: Thu Nov 12, 2009 2:25 am Post subject: |
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Hi terockvam,
If you file chapter 7 bankruptcy, the lender will not be able to foreclose on your house. Once you have been discharged from bankruptcy, the lender can start the foreclosure proceedings. If they are pursuing a judicial foreclosure, you will be given a redemption period, during which you can stay in the house. But in case, it is a non-judicial foreclosure, you will have to vacate the property once the property is sold at auction. |
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