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terockvam · Joined: 11 Nov 2009 Posts: 1 1.30 Dollars($)

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?

jenkin7 · Posted: Thu Nov 12, 2009 2:25 am Post subject:

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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How long can I stay in the house after filing chapter 7?