Legal Question in Bankruptcy in California

Foreclosure law

i WAS IN FORECLOSURE AND WAS SEEKING RELIEF IN CHAPTER 7. THE MORTAGAE COMPANY GOT A RELIEF OF STAY, I WAS WONDERING i HAD LIENS FROM IRS , MORE THAT THE COST OF MY HOME. i HAD SUFFICENT EQUITY IN THE HOME, AFTER A EMERGENCY FILING TO CONVERT TO A 13 WHICH WAS SIGNED BY THE JUDGE BEFORE THE SALE TOOK PLACE,. DO I HAVE ANY RECORESE , MY ATTORNEY TOLD ME I HAD AUTOMATIC RELIEF MY FILING THE MOTION AND ALSO THEY SOLD THE HOUSE FOR WAY LESS THEN WORTH, I HAVE RECEITS FOR OVER 140,000.00 OF ADDITION. iT WAS A HARD MONEY LENDER AND I FEEL ROBBED


Asked on 11/17/03, 4:09 am

2 Answers from Attorneys
Robert F. Cohen Law Office of Robert F. Cohen

Re: Foreclosure law

Your situation sounds too complicated to review here. I would suggest that you consult with either your attorney or a bankruptcy specialist in your area immediately. Good luck to you!

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Answered on 11/17/03, 4:23 am
Gary Fraley California Bankruptcy Attorneys

Re: Foreclosure law

Your situation is unfortunate but not unusual. What you and apparently your attorney did not understand was that, once the mortgage got relief from automatic stay in your case, the conversion of that case did not overturn that relief order. The foreclosure is legal. The fact that you did not get what it was worth is unfortunate but very common. Whoever bought it just made a profit at your expense. If there was any overbid it would go to whoever had liens on the real property. If there was anything left after that, it would go to you. It appears that once the relief was granted there was likely nothing your attorney could do to save your home. Perhaps if you had known that you at least would have had time to find alternate solutions. The Only possibility I could see is if the Chapter 7 Trustee wants to try to set the sale aside to recover equity for the creditors. I doubt that will work though.

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Answered on 11/23/03, 12:12 am


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