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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Details of stopping a foreclosure via Chapter 13 Posted by Ward-CA- on June 11, 2002 at 7:02 AM In Reply to: Automatically stopping a foreclosure , continued posted by Greg -CA on June 11, 2002 at 5:59 AM : Ward, : Hope you won't mind answering yet another of my questions on this topic. I'm a little nervous about advising owners to do this not having actually been through it. : Just after filing just the "emergency" part of the chapter 13, can the seller deed the property? Or do we have to wait for the bankruptcy to be dismissed. Are we even in bankruptcy at that point? : If above is true, is there any risk that this bankruptcy can complicate things to the point that a sale will not be possible? The court won't approve it for example? : My concern is not being able to complete the process somehow, and forcing the owner into a situation where the trustee sale can no longer be avoided because there is no time do do anything else. : Greg =•=•=•=•=•=•=•=•=•=•= Technically I get him to deed the property over prior to filing Chapter 13. Then he doesn’t have to wait for the automatic dismissal 15 days later in order to do the deeding. We don’t seek the Court’s approval because of the automatic dismissal. If a title company wants written proof of the dismissal you can get it in 10 days after formally asking the judge for it. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, : : Hope you won't mind answering yet another of my questions on this topic. I'm a little nervous about advising owners to do this not having actually been through it. : : Just after filing just the "emergency" part of the chapter 13, can the seller deed the property? Or do we have to wait for the bankruptcy to be dismissed. Are we even in bankruptcy at that point? : : If above is true, is there any risk that this bankruptcy can complicate things to the point that a sale will not be possible? The court won't approve it for example? : : My concern is not being able to complete the process somehow, and forcing the owner into a situation where the trustee sale can no longer be avoided because there is no time do do anything else. : : Greg : =•=•=•=•=•=•=•=•=•=•= : Technically I get him to deed the property over prior to filing Chapter 13. Then he doesn’t have to wait for the automatic dismissal 15 days later in order to do the deeding. : We don’t seek the Court’s approval because of the automatic dismissal. If a title company wants written proof of the dismissal you can get it in 10 days after formally asking the judge for it. 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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