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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] How many times can they do that? (nm) Posted by rita on February 25, 2002 at 2:22 PM In Reply to: Re: Using bankruptcy to derail a scheduled foreclosure sale posted by Rita on February 25, 2002 at 2:20 PM : : : I've noticed that in certain foreclosure cases, the sale has been cancelled 1, 2, 3 or even more times after the homeowner files a "suggestion of bankruptcy". The sale is eventually rescheduled and the process repeats itself. : : : What exactly is the homeowner doing to manipulate the system? How can they keep "filing" for bankruptcy over and over? Shouldn't that be a one time thing? : : : Thanks : : =•=•=•=•=•=•=•=•=•=•= : : Rita, : : What commonly occurs is that the delinquent homeowner files an emergency petition in a chapter 13 bankruptcy action a day or so before the scheduled foreclosure auction. That initial petition will cause the trustee to postpone the auction for about a month, enough time for the lender’s attorney to get a hearing on lifting the automatic stay of bankruptcy. : : Then when that ploy is about to run out the other spouse will file another emergency petition, etc. : : How many times can they do that? It seems to happen more than twice a lot. : Thanks Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : : : I've noticed that in certain foreclosure cases, the sale has been cancelled 1, 2, 3 or even more times after the homeowner files a "suggestion of bankruptcy". The sale is eventually rescheduled and the process repeats itself. : : : : What exactly is the homeowner doing to manipulate the system? How can they keep "filing" for bankruptcy over and over? Shouldn't that be a one time thing? : : : : Thanks : : : =•=•=•=•=•=•=•=•=•=•= : : : Rita, : : : What commonly occurs is that the delinquent homeowner files an emergency petition in a chapter 13 bankruptcy action a day or so before the scheduled foreclosure auction. That initial petition will cause the trustee to postpone the auction for about a month, enough time for the lender’s attorney to get a hearing on lifting the automatic stay of bankruptcy. : : : Then when that ploy is about to run out the other spouse will file another emergency petition, etc. : : : : How many times can they do that? It seems to happen more than twice a lot. : : Thanks Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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