How long will it take for the mortgage company to file foreclosure? 18 Answers as of July 02, 2013

How long after chapter 13 bankruptcy is dismissed? How long will it take for the mortgage company to file foreclosure?

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Law Office of Susan G. Taylor
Law Office of Susan G. Taylor | Susan G. Taylor
Unfortunately, that's anybody's guess. There's no way to determine when it will happen.
Answer Applies to: Texas
Replied: 7/2/2013
Law Offices of Lynn Pierce
Law Offices of Lynn Pierce | Lynn Pierce
It depends on how far behind you are. They used to file when there was a default for 3 months. They seem to be taking much longer to file these days because of the backlog in foreclosed homes.
Answer Applies to: Colorado
Replied: 3/6/2012
J.M. Cook, P.A. | J.M. Cook
There is no set time and it depends on the speed of your current jurisdiction in scheduling these matters.
Answer Applies to: North Carolina
Replied: 3/5/2012
Diefer Law Group, P.C.
Diefer Law Group, P.C. | Abel Fernandez
It depends on how much time they had left to foreclose before you filed the chapter 13. The company can pick up where it left off. Although, most of the time they will re-set the sale date so it can be 21 days.
Answer Applies to: California
Replied: 3/5/2012
Steven Harrell, Attorney at Law | Waymon Steven Harrell
They have to send a thirty day notice by certified mail, and advertise the property once a week for four weeks, before they could foreclose on the first Tuesday of the following month.
Answer Applies to: Georgia
Replied: 3/5/2012
    Janet A. Lawson Bankruptcy Attorney
    Janet A. Lawson Bankruptcy Attorney | Janet Lawson
    That is an unknown. I have one case involving a condo that has not been foreclosed upon in over a year - despite the bank having obtained relief from stay. Generally, they do it rather quickly. Call the number on the Notice of Sale, enter the "T.S." number (top left hand corner) and find out when the sale is set for.
    Answer Applies to: California
    Replied: 3/5/2012
    Charles Schneider, P.C.
    Charles Schneider, P.C. | Charles J. Schneider
    Filing a foreclosure is initially the economic decision of the mortgagee to hire counsel to do so. It can commence immediately.
    Answer Applies to: Michigan
    Replied: 3/5/2012
    Heupel Law
    Heupel Law | Kevin Heupel
    The time it takes for a foreclosure to start after the dismissal of a Chapter 13 depends on whether you were in foreclosure prior to filing bankruptcy. If you were in foreclosure prior to filing, then there is no established timeline. The bank can start the foreclosure at any time without further notice to you. If you were not in foreclosure, then the bank will provide you with four months notice of the foreclosure sale date.
    Answer Applies to: Colorado
    Replied: 3/5/2012
    Mauritz Van Niekerk, Attorneys at Law
    Mauritz Van Niekerk, Attorneys at Law | Christiaan van Niekerk
    In new York quite a few months but it depends on the bank.
    Answer Applies to: New York
    Replied: 3/5/2012
    William P. Turner Law Office, P.A. | William P. Turner
    The stay protection that prevented foreclosure during your bankruptcy was lifted when your bankruptcy was dismissed. So, the lender can file a foreclosure, or resume the one begun before you filed a 13 if the foreclosure has not yet been dismissed, anytime after dismissal of the bankruptcy. There is no way to know how long your lender will take to file that foreclosure. It is up to them and within their control. Many lenders are slow to foreclose, but no promise that is true with yours.
    Answer Applies to: Kansas
    Replied: 3/5/2012
    Bird & VanDyke, Inc.
    Bird & VanDyke, Inc. | David VanDyke
    Its hard to say without more info. If your home was already in foreclosure when you filed it may not take long at all so you need to check the foreclosure radar web site to see whats happening. If you filed before the foreclosure started then you will probably get a notice of default fairly soon then 3 months later a notice of trustees sale.
    Answer Applies to: California
    Replied: 3/5/2012
    Indianapolis Bankruptcy Law Office of Eric C. Lewis
    Indianapolis Bankruptcy Law Office of Eric C. Lewis | Eric Lewis
    There is absolutely no telling. It used to be common for a foreclosure to proceed within 3 to 6 months but with current economic conditions, it varies GREATLY between banks. Some banks are going YEARS after default at this point to move along a foreclosure - and for good reason. A bank does not want to foreclose on a property that it believes it cannot sell and recoup the outstanding debt.
    Answer Applies to: Indiana
    Replied: 3/5/2012
    Philip R. Boardman, Attorney at Law
    Philip R. Boardman, Attorney at Law | Phil Boardman
    Sometimes the mortgage company will start the foreclosure proceedings immediately. I have seen other times where they have waited for 2 years. It is really hard to say.
    Answer Applies to: Virginia
    Replied: 3/5/2012
    Ross Smith, Attorney at Law
    Ross Smith, Attorney at Law | Charles Ross Smith III
    There is not way to tell when a bank will file to foreclose. Some actually refuse to close on certain low value homes. You will simply have to wait and see. After they file, you can count on 6 months to 1 year for the foreclosure to get to the eviction stage. So, take your time getting out. Good luck.
    Answer Applies to: Ohio
    Replied: 3/5/2012
    The Schreiber Law Firm
    The Schreiber Law Firm | Jeffrey D. Schreiber
    That entirely depends on the lender, who looks at factors such as the current value and loan balance to see how much the potential loss is and the number of other foreclosed homes in the area to make sure there is not an oversupply of houses which will depress the potential sale after foreclosure. When the factors are right, then the lender may elect to foreclose.
    Answer Applies to: California
    Replied: 3/5/2012
    The Law Offices of Kristy Qiu
    The Law Offices of Kristy Qiu | Mengjun Qiu
    Depends on the mortgage company and the law firm that they hire to represent them.
    Answer Applies to: Florida
    Replied: 3/5/2012
    Ferguson & Ferguson
    Ferguson & Ferguson | Jackie Ferguson Graham
    Usually a couple of months.
    Answer Applies to: Alabama
    Replied: 3/5/2012
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