Legal Question in Bankruptcy in California

My lender has filed a relief from stay to proceed with a foreclosure on my property. I cant afford the property but I dont want a foreclosure on my record. My BK is due to discharge in 15 days

My attorney says there is no reason to file against the relief since I will be discharged and not protected. I want to short sale this property and am listing it tomorrow. Do I still file against the relief? I have 14 days to respond.


Asked on 5/01/10, 10:26 am

3 Answers from Attorneys
Asaph Abrams Law Office of Asaph Abrams

I agree with your lawyer.

How's the surf in La Jolla, this morning?

This is opinion provided for informational purposes, does not address all contingencies, and is not legal advice. Retain legal counsel before acting or refraining from any bankruptcy-related action.

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Answered on 5/06/10, 10:40 am
Ken Koenen, LLM Law Office of Ken Koenen

A BK stays on your credit record for 10 years, while a foreclosure only for 7. A short sale is only marginally better. I would guess that you will not prevail on your response to the motion for relief from stay. You should try to negotiate with the bank regarding a short sale now.

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Answered on 5/06/10, 10:40 am
Carl Starrett Law Offices of Carl H. Starrett II

The desire to do a short sale is not a valid defense to a motion for relief from the automatic stay. Opposing the motion will cost you more in legal fees and accomplish nothing.

Furthermore, there is no real benefit for you in a short sale. Everybody benefits EXCEPT for you. The creditor cannot report the foreclosure due to the bankruptcy, but do you think your credit score would be THAT much worse if a foreclosure was on your credit report? A short sale would be a waste of time for you.

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Answered on 5/06/10, 10:49 am


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