i received a call from lenders attorney. the are trying to avoid having the hearing on thursday. they sent me a consent order. here is an excerpt:
The Court having considered the Motion and the record in this case finds and concludes as follows:
1. The Creditor filed the Motion on March 31, 2009.
2. The Clerk of the Bankruptcy Court
mailed a Notice
to interested parties on April 2,
2009 that any objection to the Motion must be filed with the Court by April 14, 2009 and that if no objections were filed within that time period, then the Court would consider the Motion without a hearing.
3. On April 13, 2009, an Objection to the Motion was filed by the Debtor.
4. Cause exists for modification of the automatic stay afforded by Section 362 of the
NOW, THEREFORE, it is hereby ORDERED, ADJUDGED, AND DECREED that the
Motion is granted, and the automatic stay afforded by Section 362 is modified to allow
Countrywide Home Loans Servicing, LP to exercise its state law rights with respect to the Real Property, or in the alternative, to work out a Loan Modification
with the Debtors.
IT IS FURTHER ORDERED that Rule 4001(a)(3) of the Federal Rules of Bankruptcy
Procedure is waived and that the Creditor may immediately enforce and implement this Order. IT IS FURTHER ORDERED that if a sale of the Real Property is held and excess proceeds are derived, then such proceeds shall be deposited with the Chapter 7 Trustee in this case.
My understanding is that this will cancel hearing and allow the trustee (provided they agree with order and upon sale of house) to pay lender-- me-- additional creditors. I just want to make sure I'm not signing anything that gives lender authority to proceed with foreclosure and thereby losing my homestead exemption.