Q: I filled emergency chapter 13 on July 07 at 10:00am, but the bank sold the house on July 7th at 9:00 am when the sale
Started at the front of the old police station in Corona, Ca. Which counts first? Wells Fargo would not give me an answer on modification. So I got to the Bankruptcy Court too late to stop the sale with procedures. Can I still take the original bank(Wells Fargo) to court for illegal proceedures since the beginning of forclosure? Fannie Mae bought the house.
A: Filing bankrukptcy normally creates an automatic stay to stop foreclosure proceedings (among other things). But it is not retroactive! If the bank already sold your house an hour earlier through a foreclsoure sale, the bankruptcy does not void that earlier sale. It is alway important that you file a bankruptcy proceeding BEFORE the foreclosure sale. And it is always a good idea to contact the foreclosure trustee as soon as you file, and give him the bankruptcy case number so he knows that you have filed.
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