I need to how long this process will take. My home is in foreclosure the sale date was May 13th. I filed for bankruptcy in Texas March 25th. The home is in Colorado. My daughter lives in the home. How long will this bankruptcy delay the sale.How long does a motion to relief from a automatic stay take in Colorado? Regarding a home in foreclosure.?A Motion For Relief is when the investor/servicer removes themselves from the bankruptcy with the blessings of the court. It takes as long as the servicer and the courts take which is determined by the severity of the delinquency. There is no 'exact' time frame. You may want to look at having your daughter move out of the home and including it in the bankruptcy because once that MFR is granted the mortgage will again report to the credit agencies as delinquent, then pre-foreclosure then foreclosure, charge off, etc.. on top of all the other credit that is reporting as BK. This means you will have both BK and FC on your credit. While there will probably be some type of forgiveness in a year or two for people who are losing their homes these days, as a potential creditor I would see the BK and FC and I'm not so sure that forgiveness would apply. It is also far easier to start repairing your credit with a BK only, as opposed to a BK and FC.
Sometimes it's best to just close the door and start over (for credit purposes too) than to drag this out which in turn drags out the length of time before you're going to be able to start recovering your credit.How long does a motion to relief from a automatic stay take in Colorado? Regarding a home in foreclosure.?Don't listen to what people tell you here as often the results depend on where you live
The link just below should help alot as it helped me
http://www.foreclosurefinancing.org
Hope i helped
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