Have Legal Questions? Ask a Lawyer Now.
Hello and thank you for allowing me the opportunity to assist you.
The easiest way to stall a foreclosure is to file for bankruptcy.
Have you considered that?
You can do other things that may or may not work, such as demand that the lender produce the original note. Often, however, the lender can do so rather easily.
we are filing a ch 11 but not for a couple of weeks. I just didn't want the order signed before the stay was initiated.
You may wish to file the Ch11 sooner.
You can file a bare bones petition.
I filed a notice of appeal on Friday.
That would stop the foreclosure.
Then supplement the filing.
Interesting. what does that consist of ?
Is there a particular reason why you feel that you must wait to file the Ch11? Or is it just a matter of preparing the filing?
The bare bones petition is just the petition itself. The schedules are filed later.
a couple of weeks later.
And the plan is filed even later than that.
And why Ch11 instead of a Ch13?
Ch11 is rather complicated.
Most individuals file a Ch7 or Ch13 if they don't qualify for a Ch7
My old boss used to tell clients that you couldn't pay him enough to put them into a Ch11
But, some people simply don't qualify for a Ch7 or a Ch13
Ch11 is their only option.
i don't know if that's the case with you.
Are you working with a bankruptcy attorney?
My attorney said it would take that long to compile ch 11. I did file a chap 13 petition (ghost) and it delayed us three months.
Well, I would ask him to file sooner, and supplement the filing.
My property is deeded in an LLC but note signed by me personally. I believe after the 11 petition they will motion the court to release the stay and proceed with the sale.
One other question: Why do you want to prevent the foreclosure order? Are you trying to save the house?
We have trying to mod the loan for four years One West
What does your attorney say about the LLC owning the house? It strikes me that the other side will argue that since you don't own the house, you should not be able to stop the foreclosure. The foreclosure is against the LLC, not against you personally.
Against me personanlly since I signed the note.
That's true. But when you file for personal bankruptcy, you can generally stop a foreclosure on property that you own ... not on property other people (such as the LLC) own. It's interesting. But I suspect nobody would want to proceed with a foreclosure because they wouldn't want to take a chance ... not the judge, not the attorneys.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).