If you include your house in a bankruptcy how long after filing will you have to move out?

Answer 1

• I am also in the same situation you are in. According to my attorney, I don't have to move out until the mortgage company successfully forecloses on the property. I was already in foreclosure before I filed the bankruptcy but by doing so I bought more time with the "stay" and now the mortgage company has to legally foreclose before I have to move if I choose to stay that long.

• I am a bankruptcy attorney in Indiana. I suspect that the answer to your question varies widely from state to state since each state has their own way of dealing with foreclosure. The Bankruptcy Code says you're supposed to tender surrendered property to the creditor within 45 days of the bankruptcy filing date, but in Indiana it is common practice for banks to let the person surrendering the home stay there until the sheriff sale, which is the final step of the foreclosure process. I believe the reason for this is because a bank would rather you stay in the home and keep it safe until the sale rather than you moving out, then the bank has to foot the bill to have someone winterize and secure the home and drive by from time to time to be sure no one broke in, vandalized it, etc.

Answer 2

I think after you file, all of your debts should be "frozen" with a filed stay. Then, at the creditor's meeting with the trustee, they would discuss the terms of the discharge and you would be notified of how long you had to vacate. If you have a lawyer, ask them, but if not, you may be able to call the mortgage company if you really want to know. Otherwise, after the debts are discharged, you would probably receive a letter from the mortgage company that your house was included in the bankruptcy and this is not an intent to collect on the debt, but they would like to collect their property and you have X days to vacate the premises.

Answer 3

It depends on the foreclosure process of your state. If you are not current on your mortgage, the mortgagor may file a motion for relief from stay during the pendency of your case. Once they get relief from stay, they typically will start foreclosure proceedings on the home. In California, typically there is a notice of default and then a notice of foreclosure sale before the sale.

Answer 4

You are not prevented from moving as a result of filing bankruptcy. Filing bankruptcy is not a crime.

Answer 5

Until its sold and you are evicted.