Question
Is there time to file to postpone sale of a home if we are filing chapter 7 bankruptcy?
We are in the process of short selling our home and have an offer in on it. B of A said they will not postpone the auction that is scheduled for Aug 28th. Is there time for us to get that postponed while we get the rest of the information together needed to file chapter7?LawQA.com Answer Library
Answered By: Bird & VanDyke, Inc.
The filing of a chapter 7 will stop the foreclosure temporearily. (Usually 3 to 4 months). However, once you file and during the approx. 105 days your case is open you will need to obtain trustee approval for the short sale.
Answer Applies to: California
Replied: 8/25/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answer Applies to: California
Replied: 8/25/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answered By: Bankruptcy Law office of Bill Rubendall
Once a sale date has been set there is no requirement that the lender postpone the date. Filing a bankruptcy will stop the foreclosure. The lender can seek permission from the bankruptcy judge to go forward. You should consider whether a chapter 13 would enable you to reorganize and keep the house.
Answer Applies to: California
Replied: 8/25/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answer Applies to: California
Replied: 8/25/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answered By: Michie Law Firm
Yes. There are several ways to delay the sale. Litigation or an emergency bi filing.
Answer Applies to: California
Replied: 8/24/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answer Applies to: California
Replied: 8/24/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answered By: Law Offices of Joseph A. Mannis
Depends on the lender. Do they know there's an offer on the property? If not, you need to tell them. However, I'm guessing they're already aware you have an offer on the property, and are going forward anyway. If that is the case, you are going to have to file the bankruptcy before the 28th, which doesn't leave you a lot of time. Do you have an attorney and are you ready to file the 7? I'd be happy to help, but I don't know if you're local or not. I'm in Calabasas, California. Feel free to give me a ring and we can discuss it. By the way, for a myriad of reasons which I'd be happy to discuss, I'm not a fan of short-selling the house prior to the BK; generally speaking, it is better to file the BK, and then you can worry about the short-sale.
Answer Applies to: California
Replied: 8/24/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answer Applies to: California
Replied: 8/24/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answered By: Carballo Law Offices
Only the bank can postpone the foreclosure sale. Filing bankruptcy stops the sale by order of the bankruptcy court ("automatic stay"). If you are sure you will have no problems qualifying for Chapter 7 and that is what is best for you to do, then you can file a skeletal petition to stop the sale and then you will have to file the rest of the schedules and forms within the period of time required by the court (normally 14 days). You can not continue with the short sale in bankrutpcy but it can be completed after your bankruptcy case is over. There is very little benefit to do a short sale anyway but those are things you need to discuss with your attorney.
Answer Applies to: California
Replied: 8/24/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answer Applies to: California
Replied: 8/24/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answered By: Grasso Law Group
If you are filing for Chapter 7 then it shouldn't really matter whether the bank forecloses or you conduct a short sale. In either case you will not have any more liability under California law.
Answer Applies to: California
Replied: 8/24/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answer Applies to: California
Replied: 8/24/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answered By: The Schreiber Law Firm
If you are filing just to stop the sale, that is not a good idea. If you are planning on filing Chapter 7 in any event, the filing on or before August 27 would stop a foreclosure sale. However, the house becomes property of the bankruptcy estate, you have no right to close any short sale, only the Chapter 7 trustee can while the case is open. Unless the Chapter 7 trustee sells or abandons the property back to you during the case, the sale cannot occur.
Answer Applies to: California
Replied: 8/24/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answer Applies to: California
Replied: 8/24/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answered By: Law Office of Larry Webb
Yes, you can file an emergency petition, but it is more work, it will cost you more and there is some risk that your case can be dismissed early. You should contact an attorney immediately. Best regards
Answer Applies to: California
Replied: 8/24/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answer Applies to: California
Replied: 8/24/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answered By: Diefer Law Group, P.C.
Unless you can work out a postponement with the creditor, you might need to file a bankruptcy immediately to save the home.
Answer Applies to: California
Replied: 8/24/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answer Applies to: California
Replied: 8/24/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answered By: Janet A. Lawson Bankruptcy Attorney
Nope, only filing the bankruptcy will stop it.
Answer Applies to: California
Replied: 8/24/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answer Applies to: California
Replied: 8/24/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answered By: Judith A. Runyon, Esq. Attorney at Law
The bankruptcy has to be filed no later than the 27th in order to stop the sale.
Answer Applies to: California
Replied: 8/24/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answer Applies to: California
Replied: 8/24/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answered By: Grennier Law
If the bank is not willing to postpone the foreclosure sale, you may be required to file a bankruptcy to have the court impose the automatic stay which will serve to stay (stop) the foreclosure.
Answer Applies to: California
Replied: 8/24/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answer Applies to: California
Replied: 8/24/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answered By: Law Office of Chirnese L. Liverpool
Generally, if you are using an attorney, they should be able to assist you with stopping the sale in time, once you have filed the bankruptcy.
Answer Applies to: California
Replied: 8/24/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answer Applies to: California
Replied: 8/24/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
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