If I do finally surrender it, how long until I have to move and what happens to all my other unsecured debt? 4 Answers as of August 30, 2017

I live in my condo. I have an active chapter 13 bankruptcy case. I am behind again on mortgage payments and on my condo dues. My bank is filing a motion to relief stay. My home is way underwater. It was modified once in 2013 and I had another chapter 7 bankruptcy discharged with this property in 2009. I want to keep my house but if I cannot, I need to know first if I ask to surrender the house, will the court even approve this? My bank cannot foreclose and lose $100,000. I have not signed a reaffirmation. I am not personally liable for these secured debts anymore and I want to know what is the bank going to do and or the court. It seems to me like I am in the driver’s seat and can ask for another loan modification. Is that a possibility? Do I continue making smaller chapter 13 payments?

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GARCIA & GONZALES, P.C.
GARCIA & GONZALES, P.C. | Richard N. Gonzales
Trying to answer questions like this without looking at your entire BK file, including your current financial situation, is a "guess" at best. Pay an experienced BK lawyer for two hours of their time to review your BK file, ask you questions about your current situation, so you can get quality legal advice. Now is not the time to skimp!
Answer Applies to: Colorado
Replied: 8/30/2017
A Fresh Start
A Fresh Start | Dorothy G Bunce
You are so busy making assumptions like whether the court needs to approve a foreclosure and whether the bank is going to foreclose because of the substantial loss they will take, I do not see you being willing to accept advise that conflicts with your view of the world. Once the lift stay is granted by the bankruptcy judge, and it will be granted if you have not been paying the mortgage, the bankruptcy judge will no longer have any ability to stop the foreclosure. Ten years ago, lots of people assumed that the bank would never foreclose. They were wrong. In determining your Chapter 13 budget, your plan payment was based on your promise to make your mortgage debt and your HOA dues. Since you failed to make these payments, you spent money that should have been going to pay your creditors. Under these circumstances, I do not see any future in you continuing to remain in Chapter 13. You need to discuss this with your Chapter 13 attorney and be realistic.
Answer Applies to: Nevada
Replied: 8/30/2017
Ronald K. Nims LLC | Ronald K. Nims
You can always ask for a loan modification but the bank doesn't have to grant it. Since the bank has asked for relief from stay, it's safe to assume they intend to foreclose.
Answer Applies to: Ohio
Replied: 8/30/2017
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
If they foreclose you will owe them nothing as a result of the 2009 chapter 7. You may owe condo dues as those were incurred post ch7 and post filing ch13. How long you can stay is any ones guess. A foreclosure in CA takes at least 110 days (if you have been in CH13 for at least a year). It is up to the creditor to decided how quickly they want to move. Post foreclosure you may move to amend your plan, but I don't know what else you owe. FYI you are NOT in the drivers seat, you can ask for a loan mod but they do not have to give you one. HAMP is over. You should see local counsel for more definite answers.
Answer Applies to: California
Replied: 8/30/2017
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