When will a foreclosure be instituted after my chapter 7 bankruptcy? 10 Answers as of April 20, 2011

My house was discharged in Ch 7 bankruptcy in Jan 2010. Since that time I have been making my mortgage payments in full and on time to GMAC, but I am unable to continue to do so. How long is it likely to take for GMAC to institute a foreclosure action? At what point will I be required to vacate the property? How long does it usually take between the beginning of the foreclosure and the point when I would need to leave my home?

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Bankruptcy Law office of Bill Rubendall
Bankruptcy Law office of Bill Rubendall | William M. Rubendall
Since the Chapter 7 discharge is done, the lender can start foreclosure any time you are behind. In California it takes 110 days from the start of foreclosure to trustee's sale completion. You will will required to move out after that.
Answer Applies to: California
Replied: 4/20/2011
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
That depends on where you live. In California it takes a minimum of 5 months, but it never happens in that time frame. Right now it is taking almost a year (and sometimes more).
Answer Applies to: California
Replied: 4/19/2011
The Law Office of Mark J. Markus
The Law Office of Mark J. Markus | Mark Markus
Foreclosure and unlawful detainer laws are state law, so the process and how long it will take depends on what state you are in, and you haven't disclosed that information. I suggest you consult with a real estate attorney in your area for more details. This has no thing to do with bankruptcy at this point.
Answer Applies to: California
Replied: 4/19/2011
Burnham & Associates
Burnham & Associates | Stephanie K. Burnham
Unfortunately there is no clear schedule to define when a foreclosure is instituted and how long the process will take as each lender has makes their own decisions. Normally, the Lender will take action when you are behind by three months or more. Action by the Lender could include an offer to modify, a demand for payment or turning over the account to a law firm for foreclosure. The Lender is required to give you notice of when the property is going to be "sold" at auction. After the property is "sold" the Lender will change the locks and take action to protect the property.
Answer Applies to: New Hampshire
Replied: 4/18/2011
Law Office of Eric Ridley
Law Office of Eric Ridley | Eric Ridley
It's very hard to predict how long any lender will take before completing a foreclosure proceeding. Nationwide, the average is somewhere around 9 months, but I've seen people out in much less time, and I've seen people retaining their homes for years.
Answer Applies to: California
Replied: 4/18/2011
    Law Office of David P. Farrell
    Law Office of David P. Farrell | David Farrell
    In California, non-judicial foreclosure usually takes at least 120 days.
    Answer Applies to: California
    Replied: 4/18/2011
    Ferguson & Ferguson
    Ferguson & Ferguson | Randy W. Ferguson
    We have clients months after bankruptcy who have not been foreclosed on. Get your attorney to check on it.
    Answer Applies to: Alabama
    Replied: 4/18/2011
    Law Offices of Steven A. Wolvek
    Law Offices of Steven A. Wolvek | Steven A. Wolvek
    Every institution is different so its impossible to say when the lender will start the foreclosure process. The process starts with the recording of a Notice of Default giving 90 days to bring the loan current. After 90 days, the next notice is a Notice of Trustee's Sale setting the sale date, time and place 21 days thereafter. Following the sale, you become a tenant of the lender and they have to evict you. I would call just before the sale to see if your lender offers a cash of keys program where they pay you to relocate to avoid having to pay the costs of doing the unlawful detainer.
    Answer Applies to: California
    Replied: 4/18/2011
    Bankruptcy Law Office of Robert Weed
    Bankruptcy Law Office of Robert Weed | Robert Weed
    Since the crisis, the behavior of the mortgage companies is really unpredictable. and how long it takes depends on what state you are on.
    Answer Applies to: Virginia
    Replied: 4/18/2011
    Indianapolis Bankruptcy Law Office of Eric C. Lewis
    Indianapolis Bankruptcy Law Office of Eric C. Lewis | Eric Lewis
    Many mortgage servicers and providers are taking a long time to institute a foreclosure action and even more so to progress to the eviction stage. You may have upwards of a year or two before after you default before you are forced to leave.
    Answer Applies to: Indiana
    Replied: 4/18/2011
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