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Ray
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 37076
Experience:  Texas Attorney for 30 years dealing in real estate
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My house has been in foreclosure last 3 years approx. I

Customer Question

My house has been in foreclosure for the last 3 years approx. I filed for bankruptcy in an attempt to buy my 8 yr old son and I time to get out. Now I've been notified that the bank filed a motion to override the bankruptcy so they can expedite getting me out. I can't seem to find out approximately how long I have before my son and I must go. I don't have an attorney because I can't afford one. The bankruptcy lawyer told me I don't have to appear in court on Mar 7th when the bank goes before the judge - that there isn't anything I can do. Should I go? I am very worried for me and my son. Thank you.
Submitted: 9 months ago.
Category: Real Estate Law
Expert:  Ray replied 9 months ago.

Hi and welcome to JA. Ray here to help you today.

I am so sorry you are having to go through all of this.

The lender here is trying to lift the automatic stay that comes with your bankruptcy proceeding.Once they do that they can proceed with foreclosure.

Here i s a normal foreclosure timeline.It takes about 445 days for a house to foreclose.That is more than a year.Not sure how far along this was when you filed but it picks up where it stopped.

Timeline.

Day 1-15: A mortgage payment is missed.

Day 16-30:

A late charge is assessed on payment. The loan servicer (the company that processes your mortgage payments) will send you a notice or otherwise attempt to make contact with you.

Day 30-60+If your mortgage is for a home you live in, the lender or loan servicer must send you a pre-foreclosure notice at least 90 days before commencing foreclosure. This 90-day window gives you the opportunity to try to work with your lender to find an alternative to foreclosure. The notice must tell you how much you must pay to bring the loan current. It must also give you the names and telephone numbers of at least five government approved not-for-profit housing counseling agencies serving the region where you reside.

Day 45-60:

The loan servicer will send a "demand" or "breach" letter pointing out that terms of the mortgage have been violated. You will be given 30 days to pay the delinquent amount and the late charge.

Day 90+

The servicer will begin the process of bringing a legal action for foreclosure. This may include referring the loan to its foreclosure department, hiring an attorney to initiate foreclosure proceedings, recording a formal notice of foreclosure or “lis pendens” with the court and serving you with notice of the action through a “summons and complaint.” These proceedings can take 7-9 months.

Once a summons and complaint has been served on you and the lender files proof of service with the court, the court is required to schedule a settlement conference within 60 days. This is an opportunity for you to meet face to face with your lender or lender’s representative to reach a resolution of the case. You should try to meet with a housing counselor or attorney prior to the conference. You should bring proof of income such as your two most recent pay stubs and most recent tax return to the conference.

You will also have to respond to the summons and complaint. If you do not respond, the court can rule against you and schedule a foreclosure sale. If you do respond, the court will rule on whether a foreclosure can occur based on the evidence presented. If the court rules against the borrower (you) a foreclosure sale is scheduled.

The sale usually occurs at least 4 months after the court ruling. A notice of sale is published in a general circulation newspaper once a week for at least 4 weeks prior to the sale.

The foreclosure process in New York currently takes about 445 days (15 months) from the date of the first missed payment to the sale of the home.

So you may have up to another year here if foreclosure had not gotten far when you filed.Then then have to evict you after foreclosure is complete so you may yet have a pretty good period of time to save your money for moving when the time comes.When they serve you with eviction suit and hearing date you know that you need to move at that point.

I appreciate the chance to help you today.Thanks again.

Expert:  Ray replied 9 months ago.

And I would go to the hearing here, see if you can talk to the lawyer for the lender and ask questions.It doesn't hurt anything to try for more information since your lawyer does not represent you in the foreclosure.Also check to make sure you filed an answer here in the foreclosure suit.It puts everything in dispute and avoids a default.

Expert:  Ray replied 9 months ago.

If I had to guess here I would tell you that you have between three to six months before foreclosure is completed and then eviction suit is filed.

Thanks again and the best to you.

Expert:  Ray replied 9 months ago.

If you can positive rate when we are done it is much appreciated.Let me know if you have more follow up.

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