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After a foreclosure, the mortgage company or bank will send you a 1099-like form showing forgiveness of the balance due on the mortgage, including the costs of foreclosure. This is income to you and you will have to pay income taxes on that amount unless you file bankruptcy. You can also remove any unsecured debt that would otherwise make it harder to start over.
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Does a chapter 13 bankruptcy filing stall foreclosure?
Yes. It is the most common reason for filing a chapter 13.
What is first preforeclosure or foreclosure?
Pre-Foreclosure is a term the banks use internally to track the property's status. Essentially, what it means is that the home has already gone into default and a Notice of Default has been recorded. Pre-foreclosure is the time between the NOD filing and the Filing of the Notice of Trustee Sale.
Can filing for bankruptcy stop foreclosure?
Generally speaking, filing for bankruptcy protection temporarily halts ALL collection actions for all creditors, including foreclosures.
Can you stop the property from going to foreclosure 2 days before it will be foreclosed on?
Yes, by paying the back payments. Also, filing bankruptcy prior to the foreclosure will normally put a hold on the foreclosure proceedings.
Will bankruptcy protect me from foreclosure by my mortgage company?
Yes, bankruptcy protect you from foreclosure by your mortgage company. You can read more at www.hirby.com/mortgage-lender-filing-for-bankruptcy
What is the foreclosure rate in Inglewood California?
1 in 3267 homes in Inglewood, CA received a foreclosure filing in August 2009.
Does a chapter 13 bankruptcy filing stall foreclosure?
Yes. It is the most common reason for filing a chapter 13.
Will my mother-in-law loose her house if my husband's name is on her deed and we file for bankruptsy?
Yes. That issue should be discussed with an attorney before filing a bankruptcy.
What is first preforeclosure or foreclosure?
Pre-Foreclosure is a term the banks use internally to track the property's status. Essentially, what it means is that the home has already gone into default and a Notice of Default has been recorded. Pre-foreclosure is the time between the NOD filing and the Filing of the Notice of Trustee Sale.
Can filing for bankruptcy stop foreclosure?
Generally speaking, filing for bankruptcy protection temporarily halts ALL collection actions for all creditors, including foreclosures.
Can you stop the property from going to foreclosure 2 days before it will be foreclosed on?
Yes, by paying the back payments. Also, filing bankruptcy prior to the foreclosure will normally put a hold on the foreclosure proceedings.
What happens if your car has been repoed after filing Chapter 13 - weeks after?
Contact your Bankruptsy Attorney. Tell him/her what has happened. They will be able to best advise you what avenue to pursue.
What is the foreclosure rate in Miami Florida?
The foreclosure rate in southern Florida has fallen to 60% within the past year. With 1 out of 65 homes receiving a foreclosure filing. It currently ranks as 30th in the nation.
Is tax on continuing a second mortgage deductible after filing for a first foreclosure?
Even if you have had a foreclosure, tax on a second mortgage or home equity loan is still deductible.
Will bankruptcy protect me from foreclosure by my mortgage company?
Yes, bankruptcy protect you from foreclosure by your mortgage company. You can read more at www.hirby.com/mortgage-lender-filing-for-bankruptcy
Will chapter 7 bankruptcy stop a foreclosure in California?
Yes, temporarily. Filing for bankruptcy protects your from collection actions taken by your creditors, including foreclosure during the proceedings.
How long will a foreclosure affect your buying a new home?
Foreclosure notations can appear within the account listing itself, called a "tradeline" and the actually legal filing of foreclosure can appear within the public records portion of your credit report. Any tradelines with derogatory information are shielded from view after 7 years. The legal entry can appear for 7 years from the date of filing.
