Can I stay in my house during bankruptcy? How? 9 Answers as of August 13, 2015

I filed chapter 7 bankruptcy and included my house. The bankruptcy is already complete, but I still receive statements from my mortgage company like nothing has happened, no past due amount listed, just showing my current payment amount. Obviously I'm not paying them, but how long can I expect to be able to stay in my house? Also, when they take possession, how much notice will I receive to get my things out?

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GARCIA & GONZALES, P.C.
GARCIA & GONZALES, P.C. | Richard N. Gonzales
I'm not sure what state you are in. The successful bidder at the foreclosure sale (mortgage company usually) will have to start the eviction process. However, their are other possible options. Meet with an experienced real estate lawyer. Isn't it worth it to you to get legal advice how to stay in your home an extra thirty or sixty days? For example, if you are looking at paying rent of $1,800 per month, and a lawyer can show you how to stay in your home an extra sixty days, wouldn't it be worth it to pay a lawyer $250 for this legal advice? Of course it would be. Good luck!
Answer Applies to: Colorado
Replied: 8/13/2015
Ronald K. Nims LLC | Ronald K. Nims
The bank can't simply take possession of your house. Either you must sign a deed transferring the house to the bank or the bank has to foreclose. If you want to buy another house in the future, you're better off doing a deed in lieu than holding out for a foreclosure. In either case, you'll have ample notice before the bank can take the house.
Answer Applies to: Ohio
Replied: 8/13/2015
Mauritz Van Niekerk, Attorneys at Law
Mauritz Van Niekerk, Attorneys at Law | Christiaan van Niekerk
It could be many years before they come for the house for now you can just stay there.
Answer Applies to: New York
Replied: 8/12/2015
Patrick W. Currin, Attorney at Law | Patrick Currin
You will get a Notice of Default and a Notice of Trustee's sale. When this will happen can vary greatly.
Answer Applies to: California
Replied: 8/12/2015
Richard B. Jacobson & Associates, LLC | Richard B. Jacobson
First, check with your bankruptcy lawyer. If the bank has not yet started a foreclosure action, they are very likely to do so sometime in the next few months. They will presumably win a judgment, which will give you a 6-month redemption period so long as you are living in the home. After the end of the six months they will hold a sheriff's sale, and the foreclosure is concluded by a hearing ten days or two weeks after the sale to confirm it. Your rights in the property end when the court confirms the sale. So you could stay in the house for something more than 6 month, perhaps as much as 8 months or more. I often suggest to people that while they are not paying their mortgage or their real estate taxes, they be sure to continue their own insurance coverage, apart from what the bank buys since the bank's insurance will not cover your property or your possible liability to other persons for harm.
Answer Applies to: Wisconsin
Replied: 8/12/2015
    A Fresh Start
    A Fresh Start | Dorothy G Bunce
    A lot of people would love to be in your position, but there is no way to say how long it will take before the mortgage company will begin to foreclose, unless you have a really good crystal ball. Once the foreclosure process begins, it can be completed in as little as 115 days, but there is usually a hiccup or two along the way, so foreclosure could take a lot longer. Years even!
    Answer Applies to: Nevada
    Replied: 8/12/2015
    Freeman Law Group, LLC
    Freeman Law Group, LLC | Derek Freeman
    Why are you not paying them? In a chapter 7 bankruptcy you have the choice to keep or surrender property securing a loan. If you choose to keep it, you must keep making payments according to your original loan agreement, or sign a reaffirmation agreement which will then be filed with the court. If you choose to surrender the property, obviously you don't keep making payments. But you are still responsible for any taxes, insurance, or fees such as HOA dues on the property, so long as you're the owner of the property. Your responsibility to make these payments doesn't go away until/unless the bank forecloses.
    Answer Applies to: Colorado
    Replied: 8/12/2015
    Janet A. Lawson Bankruptcy Attorney
    Janet A. Lawson Bankruptcy Attorney | Janet Lawson
    That depends on which state you are in. The foreclosure process is different everywhere. In California they have to give you a "Notice of Default" (a recorded document that will come certified mail). That gives you 120 days to get current. If you don't get current (or you don't file ch13 bankruptcy to get current), a "notice of sale" will be posted on the front door. On that day the house will be sold, unless you file a ch13 to get current on the day BEFORE the sale. The sale is deemed to have occurred at 8am the day of the sale.... so don't wait if you want to try and keep it.
    Answer Applies to: California
    Replied: 8/12/2015
    The Law Office of Darren Aronow, PC
    The Law Office of Darren Aronow, PC | Darren Aronow
    The bank will have to go through the foreclosure process which could take years.
    Answer Applies to: New York
    Replied: 8/12/2015
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