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Maverick, Attorney
Category: Bankruptcy Law
Satisfied Customers: 5745
Experience:  20 years of professional experience
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We have recently (2 weeks ago) been discharged on a chapter

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We have recently (2 weeks ago) been discharged on a chapter 7 Bankruptsy case. Our home loan of $593,000.00 was also in the 7. The house is now worth from $320,000.00 - $350,000.00. We haven't recieved anything from the bank as of yet. We have been packing and looking for another place to rent, but many landlords will not even concider us as a renter. Also unemplyed.
Does the bank have to notify us of the forecloser on the house, and could that take up to four months or can they kick us out in 24 hours as my friends have told me? Will we get any kind of letter first?
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  Maverick replied 7 years ago.

Depends on the state that you live in. I am assuming that the bank lifted the automatic stay so that it could proceed with the foreclosure? Was there a non-judicial foreclosure clause in the mortgage agreement?

Customer: replied 7 years ago.


We are in the state of California.

I don't know if there was a non-judicial foreclosure clause or even what that means?

So an automatic stay??? I suppose they have lifted it. I really don't know. We were notified by the bank before the discharge that they denied a modification filed back in January, 09. The man from the bank just said to me the case would be closed for the modification. So we are waiting for a paper from them and just are hoping it is not the Sheriff giving us 24 hours to move. I know we must leave at some point but with my husband out of work a few more months would give him time to get a job.

Scared in California

Expert:  Maverick replied 7 years ago.
You should get a notice telling you when they plan to sell your house at the auction and such sale date will be 14 days after the date you get that notice.
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