Relief of Stay-Consequences?

Posted by dragsnguns on September 03, 2005 at 19:09:30:

I live in Colorado and am halfway through my Chapter 13. My second mortgager just filed a Motion for Relief of Stay. I can believe this as I am all of six days late on my August payment. I owe about 10-15% more than the house is worth and am current with the first mortgage and the trustee.

What is the likelihood that Irwin (the second mortgage holder) will actually foreclose? What is the likelihood the trustee will move to dismiss?

Thanks

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: I live in Colorado and am halfway through my Chapter 13. My second mortgager just filed a Motion for Relief of Stay.  I can believe this as I am all of six days late on my August payment.  I owe about 10-15% more than the house is worth and am current with the first mortgage and the trustee.

: What is the likelihood that Irwin (the second mortgage holder) will actually foreclose?  What is the likelihood the trustee will move to dismiss?

: Thanks


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