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Can you still rent during bankruptcy and losing home to foreclosure?
Wiki User
∙ 14y ago
When you are declared as bankrupt you still have to live somewhere so yes you may still rent a property for yourself to live in but you are not permitted to own one .
Actually you can rent and you can also own a home when you declare bankruptcy. Bankruptcy allows an individual or family a car, a place to live, utilities. You can even have TV and internet while in bankruptcy. Everything that one needs to live a normal life. You just can't have excess. Like money or vacations, recreational boats and stuff of that nature. You should do an internet search about bankruptcy and you will find out that it can help those who are really down and out.
Wiki User
∙ 14y ago
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How long will bankruptcy prevent a foreclosure?
Bankruptcy will prevent a foreclosure but you still have to reaffirm the loan and begin paying or the bank will repossess your house regardless of bankruptcy. Bankruptcy temporarily halts the process for up to a couple months.
Will a loan modification application stall foreclosure proceedings?
I know of people who applied for the modification but all the while the mortgage company proceeded with the foreclosure. So, yes they still will foreclosure apparently. Its like one hand doesn't know what the other is doing. the individuals that I know had to file chapter 13 bankruptcy to stop the foreclosure sale from happening
You surrendered your home in bankruptcy The discharge was in March 09 The HOA says you are still liable for the dues until foreclosure is complete Do you have to pay and can they put on credit report?
Best practices dictate that you work with your bankruptcy attorney to answer your questions specifically.
Can i still file bankruptcy if my home is schduled for sheriff's sale?
It depends somewhat on your state law regarding foreclosure sale, but as a rule, you can save your house from being auctioned by filing bankruptcy. Whether you can keep the house depends on a lot of other considerations. Consult a local bankruptcy lawyer.
Your house has been foreclosed on can it still be saved?
In most states you can overcome a foreclosure by exercising the 10 day upset period. The 10 day upset period allows you to file for bankruptcy within 10 days of the foreclosure sale to save your home.
Who is responsible for a property still in the foreclosure process once you vacate the premises?
You are responsible for the property during the foreclosure process up until the property is sold or auctioned.
How can one beat foreclosure?
You can't "beat" foreclosure. You can talk to the lender and try to work out some kind of repayment plan that will cause them to halt the foreclosure proceedings. You can also stall the process by filing for bankruptcy, but at the end of that you're still going to lose the house unless you've used the time to work out a deal with the lender.
Can a landlord who's house went into foreclosure and he fill bankrupt and he has a section 8 tenant living in the unit 8 tenant still have to pay their family tentant contribution?
It might be best to ask the Housing Authority that issued the voucher. Bankruptcy has nothing to do with the tenant. As far as the foreclosure, it depends on what stage the foreclosure is in. Until the foreclosure sale happens, the tenant owes the rent to the landlord.
Are you required to keep home insurance after bankruptcy discharge?
If your still buying the house and you still owe the mortgage company then Yes. It is a part of your mortgage contract. Failure to comply with the terms of your mortgage contract will put you in default on your mortgage and subject you home to foreclosure. It has nothing to do with whether you filed a bankruptcy or not, it's a totally separate issue.
Can debt be divided if he's not willing to file bankruptcy?
In most cases no, on a joint debt if one party files bankruptcy and is discharged the other party is liable for the entire remaining balance. This makes filing bankruptcy little protection from foreclosure, repossession, and other actions credits would still be able to attempt on the other party.
Should you file Bankruptcy when the bank forecloses on your house?
It would seem the time to act is before they foreclose. And BK may delay, but won't prevent the foreclosure...you would still have to pay the debt.
Can you still claim bankruptcy with a savings account Can I still keep my savings during a BK?
Probably not; it depends on what the court arranges for you.
