I am currently in the process of a Ch 7 BK in CA. My home is in the foreclosure process. My bk documents were filed with the court 22 days after the Notice of Default was filed with the Recorder's. I just received a letter saying that a motion for relief from my automatic stay has been granted. It has now been 66 days from the day that i filed my BK docs. Does the 90day min timeline for when the notice of default is filed start over from the day the Motion of Relief was granted? Or does it continue from the 22 days that had already elapse before i had filed my BK documents (leaving me now with only 68 days)? Or did the Motion of Relief just lift the stay & 88 days (of the minimum of 90 days) has elapsed ?
I'm trying to figure out how much time I have left to move out. Please advise.
The granting of a relief from stay motion has no effect on the relentless passage of time.
The 90 day time period for the Notice of Default does not start over from the day the Motion for Relief from Stay is granted.
The granting of a motion for relief from stay has the effect of just lifting the stay.
So if relief from stay is granted, the creditor still has to wait until the Notice of Default period of 90 days has run. Then the creditor must follow the Notice of Default with a Notice of Trustee's Sale. The time period for the Notice of Trustee's Sale is 20 days.
Good luck to you, as you look for a new place to live.
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A bankruptcy does not affect the 90 day period for the running of the notice of default. The purpose of that 90 day period is to allow the homeowner to bring the loan current and out of default.
If your desire is to prevent the foreclosure on your property, then you need to seek other options aside from a chapter 7, which does not affect foreclosure. You can consider loan modification or other legal matters. If you'd like to discuss your options, please feel free to contact my office, 949-333-5921 http://www.pacificpremierlaw.com
Good luck to you!
Disclosure: Attorney's response does not create an attorney-client relationship. Attorney's response is not intended as legal advice and is intended for informational purposes only. Inquirer should seek the advice of a duly licensed attorney within that jurisdiction.