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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Multiple BK filings Posted by Kristine-CA on May 16, 2010 at 9:19 PM In Reply to: Multiple BK filings posted by Ed on May 16, 2010 at 4:20 PM You say the family is trying to save the decedent's home? How is title now held? Are there other owners besides the decedent? Is there at trust or an open probate? Who filed the BK and on behalf of whom? I ask because I'm trying to figure out if the first two BK filings are totally legit. You mention partnerships. What partnerships have they already formed? : Working with a family who has been trying to save the house of a family member who died. : They did an initial filing of BK (Ch 7 partnership)to stop the foreclosure sale. Their plan was to work on a repayment plan with lender, but lender wouldnt do that while in BK. When the BK was dismissed (for not submitting FUP documents, purposefully), they tried to get repayment plan set up but there was only 5 days from BK dismissal to next TS. Lender day before sale said not enough time to finalize the plan so they were forced to do another BK. : This dismissal should be towards the end of this week, with the next TS scheduled for following Wednesday. Lender has made assurances that a repayment plan should be able to be done during that period. However, in case it doesnt, 2 questions: : 1. If they create yet another partnership, would they be able to fill BK for the 3rd time to buy time? I thought lender had to get court order to stop multiple filings but I have also heard from some people that after 2 filings/dismissal of same property in 12 months, that lender does not have to delay the sale for this filing. : 2. If the lender is required to get the court order, is this info on public record where one could see if this has been filed? How long does it usually take a lender to get one of these court orders? Are they pretty much an automatic for the lender or is it possible it wouldnt be issued? : Thanks for insight. Follow Ups: Re: Multiple BK filings Rick Harmon 8:02 AM, 05/17/10 (0) Post a Followup: Name : E-Mail : Subject : Comments: : You say the family is trying to save the decedent's home? How is title now held? Are there other owners besides the decedent? Is there at trust or an open probate? Who filed the BK and on behalf of whom? : I ask because I'm trying to figure out if the first two BK filings are totally legit. You mention partnerships. What partnerships have they already formed? : : : Working with a family who has been trying to save the house of a family member who died. : : They did an initial filing of BK (Ch 7 partnership)to stop the foreclosure sale. Their plan was to work on a repayment plan with lender, but lender wouldnt do that while in BK. When the BK was dismissed (for not submitting FUP documents, purposefully), they tried to get repayment plan set up but there was only 5 days from BK dismissal to next TS. Lender day before sale said not enough time to finalize the plan so they were forced to do another BK. : : This dismissal should be towards the end of this week, with the next TS scheduled for following Wednesday. Lender has made assurances that a repayment plan should be able to be done during that period. However, in case it doesnt, 2 questions: : : 1. If they create yet another partnership, would they be able to fill BK for the 3rd time to buy time? I thought lender had to get court order to stop multiple filings but I have also heard from some people that after 2 filings/dismissal of same property in 12 months, that lender does not have to delay the sale for this filing. : : 2. If the lender is required to get the court order, is this info on public record where one could see if this has been filed? How long does it usually take a lender to get one of these court orders? Are they pretty much an automatic for the lender or is it possible it wouldnt be issued? : : Thanks for insight. [ 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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