Can we stop the foreclosure if we were not given enough time? - Bankruptcy Law Questions and Answers- LawQA.com

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Can we stop the foreclosure if we were not given enough time?

Our house was in foreclosure. We were waiting to hear from the mortgage company to see if they would help us.They didn't let us know until the morning of the sale that they wouldn't leaving us stuck we couldn't even file bankruptcy as it was too late. We care now in the end of the 30 day redemption period. We just want to keep our house. Is there any motion that could be filed to stop this so maybe they will work with us?

Answer By Darren Aronow
The Law Office of Darren Aronow, PC
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You can file an order to show cause, however, it is not likely to be successful unless your specific case has merit. You should talk to a local attorney to discuss the specifics of your case.

Answer Applies to: New York
Replied: 10/26/2011

Answer By Janet Lawson
Janet A. Lawson Bankruptcy Attorney
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If the sale has already happened, the bankruptcy court can not help you. Some lawyers have filed suit for wrongful foreclosure. Since these actions are new it remains to be seen how successful they will be. In any event you will not get the house back if it has been sold to a 3rd party.

Answer Applies to: California
Replied: 10/26/2011

Answer By Kevin Heupel
Heupel Law
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Unfortunately not. The foreclosure process is distinct and runs it course regardless of what you were trying to do with the bank.

Answer Applies to: Colorado
Replied: 10/25/2011

Attorney at Law
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There's not much you can do now. A bankruptcy isn't going to allow you to keep your house, certainly not after the foreclosure has happened. Even if you had filed for Chapter 13 bankruptcy, you wouldn’t have been able to keep your house unless you had enough income to make your current payments on time, plus pay a substantial amount every month to catch up the back payments. A Chapter 7 bankruptcy also would have not helped you keep your house, although it would have temporarily stopped the foreclosure (probably for a few months) if you had gotten it filed before the foreclosure sale occurred.

Answer Applies to: Virginia
Replied: 10/25/2011

Answer By Phil Boardman
Philip R. Boardman, Attorney at Law
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Unfortunately, your story happens altogether too often. At this point, filing a bankruptcy will not get your house back. However, depending on your overall financial situation, it still may be in your best interest to file either a Ch. 7 or a Ch. 13 bankruptcy. Sometimes, this becomes the only feasible option in order for you to obtain a fresh start and to pick up the pieces.

Answer Applies to: Virginia
Replied: 10/25/2011

Law Office of Lynnmarie A. Johnson
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I am not sure what you mean by the 30 day redemption period. In MI, as long as you have not vacated the house, you have at least a 6 month redemption period. Unfortunately I have seen this happen many times. The modification people tell you not to worry about the foreclosure sale and then after it has been held, they suddenly can't talk to you. I have had one person, out of thousands, that they offered to rescind the sale, but generally once it has been held, you are done. Stay for free for the six months and save your money. If they come back and offer rescind the sale, good. Otherwise, they may offer to let you lease the house, often at a below market rent, or may offer you money (key money) to leave the house at the end of the six month to leave the house clean and in one piece.

Answer Applies to: Michigan
Replied: 10/25/2011

Charles R. Nettles - Attorney at Law
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Unfortunately, no there is no such animal.

Answer Applies to: Texas
Replied: 10/25/2011

Jonathan Basham Attorney at Law
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It doesn't appear from your question that the lender made any promises to you about giving you more time to work things out. Assuming the lender followed all the rules for proceeding with a foreclosure (there are many), it would be difficult to set aside the foreclosure. It isn't clear from your facts whether this foreclosure was a non-judicial sale or a sheriff sale following a judicial foreclosure. There is no redemption period following a non-judicial foreclosure (trustee sale following at least a four month notice of the sale). On the other hand, there is a 180 day redemption period following a judicial sale (sheriff sale following a judgment in a lawsuit foreclosing the mortgage). In any event, without evidence that the lender did something wrong or failed to follow the rules regarding foreclosure, there does not appear to be grounds based on your facts to stop the lender from taking ownership and possession of the house. If you believe there are additional facts indicating that the lender proceeded improperly, you should meet with an attorney quickly to review the facts and, if warranted, file a complaint against the lender.

Answer Applies to: Oregon
Replied: 10/24/2011

Answer By David VanDyke
Bird & VanDyke, Inc.
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If your home has already been sold pursuant to the trustees sale your probably out of luck. If there has not been a sale then bankruptcy might save it.

Answer Applies to: California
Replied: 10/24/2011

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