Can bank foreclose if you've never missed a payment?? Does anyone know the law here? Help.?

OK….So my Mom (She’s 72) filed bankruptcy protection 7 months ago as she has a retirement income and only one house….So now an attorney for the bank that holds a small mortgage on the property has filed a motion to "Lift the stay" on the house so the bank can immediately foreclose on the property. BUT….She has never failed to pay the monthly mortgage payment or been late on it. Even after she filed for protection. So….How can I help her? Should she file a answer to their motion right away to the judge? Her bankruptcy attorney is busy or wont help. I’m trying to get her to find a new attorney…But for right now, what should she do? How do these things play out?? I’ve had a hard time understanding how a bank can expect to foreclose on someone who’s paid their mortgage? Will the judge take them seriously when they’re dealing in speculation (What might happen) and not absolutes?? Thanks for any help!!
Not sure if any of the covenants of the mortgage have been violated…What’s an example of that type of violation? All I know is that she’s paid every month on time.

Technorati Tags: 7 months, absolutes, bankruptcy attorney, bankruptcy protection, covenants, hard time, mom, mortgage payment, retirement income, speculation

Posted July 6th, 2010 in When To File Bankruptcy. Tagged: 7 months, absolutes, bankruptcy attorney, bankruptcy protection, covenants, hard time, mom, mortgage payment, retirement income, speculation.

3 comments:

I wasn't hurtin nobody:
go to google and put in something like "free legal advice" or something. I did a search like that and found a website where you could put in a question and a lawyer would answer it for free within a day or two. I think you would get good advice there. A covenant of the mortgage would be like not moving out and renting it to a 3rd party, not doing something illegal on the premises like a meth lab, not destroying the house like knocking down walls or breaking out windows, keeping any necessary repairs current, not violating local zoning laws.
July 6th, 2010 at 7:01 pm
Red River:
Take your mom to see the judge, my area is small enough you can do that. Arrange to be in court the next time they have a hearing scheduled, bring all records showing the payments have been made.
July 6th, 2010 at 7:01 pm
Shovel Ready:
You didn’t mention whether your mother has violated any of the covenants in the mortgage.
July 6th, 2010 at 7:01 pm