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Ended up having to file bankruptcy in IL ( ch 7 ) on Nov 6th . . . it stopped sheriffs sale on Nov.8

Chicago, IL |

What can I expect now , as it pertains to being removed from home ? Wife and I are separated and she and kids live in house that is being forceclosed. Bankruptcy filing was me only. Mortgage note was in my name only. My creditors meeting is scheduled for 12/14/12
How much time, would you guess, before sheriffs sale re-instated, then confirmed, then vacate date set ?

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Attorney answers 3


The bankruptcy courts will not let the sheriff's sale proceed unless and until the mortgage company obtains a court order allowing them to do so. That will take a minimum of 4 weeks from the time the mortgage company turns this matter over to their lawyers and they put together the paperwork and file it with the court. Gosh it could be 5 weeks, 10 weeks, 20 weeks or longer. Depends on when the mortgage company's attorney files the paperwork.

Hope this perspective helps!


Your bk attorney can object to the bank moving forward with the foreclosure case. While you will probably not win this motion, a judge is likely to continue the hearing until after your creditor’s meeting so that the trustee can file a no asset report. This can give you appx another 2 month to try to work things out. Good Luck


If it appears from a motion to modify the automatic stay that there is no equity in the property and the trustee does not oppose the motion to modify then the stay can be lifted upon the court date it is presented in front of the judge. It all depends on the trustee and if there is any equity. If there is no equity but the trustee opposes the motion or the motion is continued it is usually continued to the 341 meeting or with an effective date after that date. Then the mortgage company may or may not have to re-publish for a new sale depending on when relief is granted. No matter what the stay will get modified at some point if there is no equity it is just a question of when.

The response given is not intended to create, nor does it create an ongoing duty to respond to questions. The response does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice. The response given is based upon the limited facts provided by the person asking the question. To the extent additional or different facts exist, the response might possibly change. Attorney is licensed to practice law only in the State of Illinois. Responses are answers to general legal questions and the receiver of such question should consult a local attorney for specific answers to questions.

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