The way I’d do it, is take the seller with me (along with the paperwork) to the courthouse and ‘help’ them file. Anyone can file on their own… but I suppose you’re taking a chance on the practicing law business - so, if you’ve got time and money to play it safe, get an attorney or paralegal to help.
The bottom line is - A Chapter 13 emergency filing should ‘STOP’ the sale from being valid thus buying the poster some time.
It’s always a good idea to verify the laws in your state, especially when the advice comes from unknown (or even known) folks on some internet site.
I have a possible pre-foreclosure deal, but sale is tommorrow. I have the cash to pay it all off but need time to check for mechanics liens, as there is a lot of work being done that is unfinished. What is a good way to postpone the sale?
Emergency Chapter 13 to the rescue! - Posted by Heidi W (CA)
Posted by Heidi W (CA) on July 17, 2002 at 14:32:08:
File an Emergency chapter 13 today! Also get the ‘voluntary dismissal’ form signed. The filing must occur BEFORE the auction time.
Don’t tell the lender (if you do they’ll postpone the auction possibly just a few days/weeks). By not telling the lender and letting the sale proceed as normal - the unlucky high bidder will find out after the fact that the sale is null and void and the lender/trustee have to start some of the process over - thus buying you time to purchase the house.
Don’t forget to get the voluntary dismissal signed up front (and hang onto it.) Than you can make sure the properties not tied up in a BR when you need to get title by recording the Chpt 13 dismissal BEFORE you record the grant deed.
Call the Bankruptcy Courthouse in your county and find out the procedure for filing a Emg Chp 13. If you do it yourself - you only have to pay filing fee (in CA it’s $180.) Or you may want to hire someone.
Re: Help…foreclosure sale tommorrow - Posted by Stacy (AZ)
Posted by Stacy (AZ) on July 17, 2002 at 13:38:42:
I don’t give you much of a chance this late in the game. But, my advice would be to get a Sale agreement signed between you and the owner, contingent on your due diligence, and immediately call the lender’s loss mitigation department to try to get the sale postponed. If they’re interested, they’ll have you fax the offer to them, and possibly call-off the sale. You could also call the trustee handling the sale, but most times I’ve found they won’t give you the time of day.
Then again, you may be able to get a better deal at the auction…
He is not looking to stop a foreclosure on his property, but on someone elses property.
Now, if you did understand it that way, and you are advising Fred to file a Ch13 for another party, then you are suggesting that he practice law on their behalf. I will assume that Fred is not a Lawyer, so this would not be prudent advice.
Be careful what you are advising folks to do, in the event that this advice may entail practicign law without a license… as this can be a serious matter, which will ultimately end up in retaining the services of a REAL LAWYER!