How much time it will take now for the lender to foreclose after bankruptcy? 4 Answers as of May 31, 2011

My lender filed a notice of default on my house in December 2010, and 30 days after that, which was in January 2011, I filed a chapter 7 bankruptcy. The lender did not request a relief of stay. So, now that my bankruptcy is being discharged this week, which is May 25th, how much time do I have before the lender will complete the foreclosure? Someone told me that in CA the lender can now foreclose ten days after the discharge and that they don't even have to notify me, even though they had only filed a notice of default so far and not a trustee sale. Can you tell me what I really should expect to happen and how much time it will take now for the lender to foreclose?

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Carballo Law Offices
Carballo Law Offices | Tony E. Carballo
You will need to be served with a notice of trustee's sale and the sale can be 21 days after the notice is recorded at the County Recorder's Office. When that will be done is whenever the bank gets around to it. It is sometimes done fast and sometimes takes months. Sometimes it seems like they forget to do it. In some areas it seems like the banks don't want the houses because they can't resell them fast and they don't want to maintain the properties. They have a responsibility to keep the property secured and to cut the grass, etc. in some cities. The more expensive the house the more likely they will move fast.
Answer Applies to: California
Replied: 5/31/2011
The Schreiber Law Firm
The Schreiber Law Firm | Jeffrey D. Schreiber
They can foreclose on the next date they have continued the sale that occurs after your case is closed. You need to check with the foreclosure trustee (on the Notice of Sale) to see what date the sale is now continued to.
Answer Applies to: California
Replied: 5/31/2011
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
If you did not receive a "notice of sale" - they have to give you that before they sell it. It will be posted on your house and it gives you 20 days notice. The house will be sold on the sale date and you need to gone. Some people hold out for "cash for keys." This is risky because if the new owner files a "unlawful detainer" against you it will be very difficult to rent a place.
Answer Applies to: California
Replied: 5/31/2011
Bankruptcy Law office of Bill Rubendall
Bankruptcy Law office of Bill Rubendall | William M. Rubendall
Since a notice of default has already been filed and more than 90 days has expired, the lender can send a notice of trustee's sale after the discharge. This takes 20 days before the foreclosure is finalized, now that the discharge is entered and there is no automatic stay in effect. Contact the lender to find out when the sale date is set.
Answer Applies to: California
Replied: 5/31/2011
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