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Do you have to move out once your are charpter 7 is discharge or can you wait till they send you a letter to forclose. Do you have to keep home owners insurance on the house also. I live in Illinois and went to court in august still waiting for the discharge and we put our hom and 2nd mortgage in the filing also, but winter is coming and we live in the woods without someone in this house the pipes will feeze and our sump pump runs non stop, we just would rather move in the spring but people are telling me I have to move out after being discharge, and I was advised they still have to forclose before you get kick out.

So if someone can offer me the correct answer that would be great, we did try to apply for loan modification but they would only lower it sixty dollars which is impossible and tried again and now we just gave up

Please anwer

jameshogg · Posted: Wed Nov 04, 2009 8:08 pm Post subject:

Hi bROM_BALLS,

If you reaffirm your mortgage in your chapter 7 filing and keep on paying the mortgage dues, then the lender will not foreclosure. Debt reaffirmation will help you in saving your property but it would also make you personally liable for the mortgage dues again.

If you do not reaffirm your debts, the lender would foreclose the property. You will have to leave the property once the lender sends you the notice of foreclosure.

Thanks

raymond · Posted: Sun Nov 08, 2009 11:58 am Post subject:

>>and I was advised they still have to forclose before you get kick out.

I'm hoping your Attorney said that.

It depends on if you live in a Judicial or non-Judicial State. If it's Judicial, you'll receive a NOD (notice of default) after approximately 90 days of not paying your mortgage (usually - they can start proceedings at 30 days if they want). Then after the 90th day you'll get a NOS (notice of sale) and the house will be sold 21 days later. Then you'll need to move out.

If you live in a Judicial State, the timeframe and process is different and you could stay in the house for up to 12 months after it's been sold through foreclosure, because you're given that period of time to correct the situation. Investors hate Judicial States.

Each State is a little different, thus the reason for reviewing your questions with your Attorney.

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