Legal Question in Bankruptcy in Maryland

Timing: Chapter 11 vs. Pending Sheriff Sale
In March we were given notice of a pending foreclosure and accelerated payment on a deed of trust which is a second position off the primary mortgage. In the interim we have been actively working with our bank a work out situation. We received notice today via regular mail our home is being scheduled for public auction. Our chapter 11 papers are signed for our attorney for delivery and process tomorrow. At what point does the filing of the chapter 11 prevent a pending public auction. Can the auction take place while these papers are in "process"? Will our filing stop this auction?Thanks for any assistance you may render.

Asked on 7/27/00, 7:20 pm

Ken Koury Kenneth P. Koury, Esq.

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Re: Timing: Chapter 11 vs. Pending Sheriff Sale

the bankruptcy court time stamps the papers filed. they must be filed anytime before the date and time of the sale.

Answered on 9/13/00, 3:35 am

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