Upcoming Foreclosures

bankruptcy was filed and foreclosure stalled.The bnk filed motion for relief from automatic stay.What is this?

My (now) x husband moved out of our home and filed chapt.7 delaying sheriffs sale and foreclosure.The bank filed a relief from automatic stay.My x and his attny declined to respond w/in 15 days and told me not to be concerned. Myself and my 2 young boys are residing in home and I'm having difficulty securing a residence (w/o his help). How much time might I have? Can the bank seize our belongings?

Public Comments

1. When the bank files for a relief from automatic stay, they are asking the court to lift the stay so they can continue on with foreclosure proceedings. In other words, the bank wants the house. You should be very concerned. How much time depends on when the court date was set to lift the stay. Can't answer about the belongings. I would talk to your divorce attorney about this and fast.
2. This is standard procedure for the lender (filing the motion). This will allow them to continue the foreclosure process. Your personal belongings are not at risk in the foreclosure; the lender has no security interest in them and doesn't want them. They really don't want to take your house back either as they always lose money on the deal, but they must.