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Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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I am in the middle of Filing bankruptcy and what to know how

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I am in the middle of Filing bankruptcy and what to know how to file an opposition to the motion for a stay?
What chapter bankruptcy did you file - 7 or 13? Please confirm - you have received a Motion for Relief from Stay? Why?
Customer: replied 8 years ago.
I filed Chapter 7, the letter is indicat Since the total encumbrances against the property are estimated to be $351,565.50, there is no equity in this asset for the Chapter Trustee to administer. I had an adjustable loan and my payments ballooned to $1800.00 per month. I am a single lady and I bring home about 2500 per month. The payment before it ballooned was $900 a month.

The attorney apparently is asking the court to allow it to proceed with foreclosure. If you are planning on surrendering the house, you may not have a defense to this motion. However, if you have a plan for refinancing the house, you can object.
Customer: replied 8 years ago.
Thank you very much - I do plan on surrendering the house...

Then you do not have to object. The court will permit the lienholder to go forward with the foreclosure.

Please remember to click accept/bonus. That is how I am paid and allows me to be able to continue to provide this service.

Thank you and best of luck.

Ellen and other Bankruptcy Law Specialists are ready to help you