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Category: Bankruptcy Law
Satisfied Customers: 17248
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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Filed Chapter 7. Received Lift of stay on Mortgage for being

Resolved Question:

Filed Chapter 7. Received Lift of stay on Mortgage for being 30 days late. I am current now. Can I save my home? Please help!
Bullhead City, AZ

Recently divorced and gain custody of kids. Ex-wife credit card sues her for 1800 but now is 3900 after fees. She is not working so I get sued because community state. I get my wages garnished 25%, which I can not survive on left over amount. Had to file for Chapter 7 to stop garnishment in Sept. I fall behind on Oct. payment because of garnishment and fees paid to attorney. Had to pay in full before filing. Made two mortgage payments in November and catch up. I get a motion to lift stay because two months were due(Oct,Nov)and WF wants to foreclose. Want to keep home because of my kids. I can make the payments. My attorney says not to worry because he gets these all the time and that we dont have to respond and just stay current, but I am worried. Please help, Do I request a response, Help

I am now responsible for $800 attorney and $150 filing fees for the banks attorneys for filing this Lift of Stay. What are my options?. I dont want to lose my home. I was pushed into these headaches because I could not survive with this garnishment and being a single parent. Thank you for your help! -
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  WALLSTREETESQ replied 7 years ago.
has the bankruptcy been discharged yet
Customer: replied 7 years ago.
No, I just went to my meeting of the creditors last week.
Expert:  WALLSTREETESQ replied 7 years ago.
convert the case to a chapter 13, this way you can keep the home, and pay the mortgage as it is, the credit cards will be paid also but not discharged totally perhaps can be paid at 30-50%
Customer: replied 7 years ago.
So if I dont convert it to Chapter 13, The bank will foreclose my home even if is current?

Cant lose my home since I am a single parent of two boys. Why would they tell me and not to worry because they see these all the time and just stay current with the payments. I dont mind paying the bills, but would I have to pay the 1900 again if I convert?

Thank you Mr. Paturi
Expert:  WALLSTREETESQ replied 7 years ago.
i would file the chapter 13, if your attorney is stating that since you are current, and their is no equity in the home, have a reaffirmation agreement signed, so the bank will not foreclose.
Customer: replied 7 years ago.
Last question and you have been a lot of Help. Thank you sir. I will talk with with my attorney to try to convert.

The last question sir is, At this point, if I stay in Chapter 7 my chances of losing my home are high?, I will lose my home if I dont convert?. I have a 25,000 equity on it and I dont want to lose that.

Thank you sir and have a great night
Expert:  WALLSTREETESQ replied 7 years ago.
In Arizona, every person age eighteen (18) or older who resides in the state, whether married or single, may hold as "homestead" exempt from attachment, execution and forced sale, certain property worth one hundred fifty thousand dollars ($150,000.00) or less. Exempt from attachment, execution and forced sale means that the property may not be seized by a creditor. The property may not be sold by the Sheriff, and the resident may not be removed from the property against his or her will.

You will be able to keep it as the equity would be exempt. If they somehow do try to sell then file the chapter 13.
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