John Walker, Home Owner in North Port, FL

Strategies for Staying in House after homeowner loses Summary Judgment

Asked by John Walker, North Port, FL Tue Feb 28, 2012

1. If I file an appeal will the auction be delayed? If so, how many months does appeal take...might be worth if even if I lose. 2.Can I get automatic stay by filing ch.13 2-3 days before auction? If I don't show up to the meeting with the bankruptcy trustee and ch.13 gets denied how long will this buy me? Would there be a follow-up hearing with the judge after I don't follow through on ch.13 to reset the auction date?

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Alma Kee, Agent, Tampa, FL
Tue Feb 28, 2012
BEST ANSWER
Hi John,

You might want to try the Principal Reduction Alternative if you have a job that would allow you to make a payment based on the current market value.

http://www.MakingHomeAffordable.com

Also it may be soon that foreclosures will be expedited and happen rapidly. There are changes being proposed in Florida and with the new REO Initiative the investors that are buying these packaged up foreclosed homes (with the requirement to rent them out for 3 years) stand to make a lot of money so they will surely be lobbying our Florida leaders change our laws to expedite foreclosures.

Also I'm seeing Deed In Lieu of Foreclosures being offered that will also give the borrower $3k so you may want to consider that.

All the best,
Alma Kee
http://www.SoldOnTampa.com
0 votes
Kevin Clouti…, Agent, Cape Coral, FL
Tue Feb 28, 2012
John,

Call a lawyer. I wouldn't share ideas in this forum anyway, This is how I earn a living. No frebees here.

Kevin
2 votes
Ray And Karen…, Agent, Mount Dora, FL
Tue Feb 28, 2012
Hi John,

I agree with all three below?

If you cooperated with the lender they may have given you a relocation bonus.

Good Luck!
0 votes
Jim Sweat, Agent, Venice, FL
Tue Feb 28, 2012
John,

you definitely need to consult with an attorney. you can talk to more than one, the initial consultation usually doesn't cost you anything (you can verify that when you make the appointment).

All the Best,

Jim Sweat, ABR, CRS, GRI, CDPE, e-PRO, ILHM
Realtor
Sandals Realty
http://www.ExplainShortSales.com
941-306-7384
Team@JimSweat.com
0 votes
., , Florida
Tue Feb 28, 2012
John,

I strongly suggest you seek the advice of an attorney -- if you need a name call me 941-228-1315.

Peter
0 votes
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