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Can you file a bankruptcy to keep from paying definciency on a foreclosure?
Wiki User
∙ 15y ago
Yes.
Wiki User
∙ 15y ago
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Do you have to declare bankruptcy if you default on your mortgage?
No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.
Can you file bankruptcy on your house if already in foreclosure?
Filing for bankruptcy may enable you to recover your house from foreclosure. However the bankruptcy would entail dealing with your entire debt situation, not just the house.
How do you stop foreclosure in NJ?
Consult a NJ lawyer for specific answers. Obviously, paying the arrears due is the best way. You can apply for a loan modification, but some mortgage companies play with the process so the foreclosure continues. A local bankruptcy lawyer can tell you whether your mortgagee is one of them. The only guaranteed way to prevent foreclosure is to file for bankruptcy protection in a chapter13.
How long will it take to buy a home after foreclosure and chapter 13?
Unfortunately there is no specific answer. There are many things that are factored in. It will depend on if foreclosure was the only negative thing on their credit, did they file file bankruptcy, what is your current situation, etc. It all varies from situation to situation. Your best bet is to ask an experienced bankruptcy attorney who understands foreclosure and your rights.
Can you file bankruptcy on day set for foreclosure?
As long as the date and time stamp on your bankruptcy petition is prior to the time of the auction on the date for the auction, yes you can.
Do you need to file banckruptcy before foreclosure?
No, but if you file bankruptcy you are willing to give up important things. Such as cars , money , boats, or anything value. That would help not having a foreclosure but it would take 2 years to get out the house if you recieve a foreclosure.
When do you file bankruptcy letter of intent?
You should file a bankruptcy letter of intent as soon as possible so that your creditors will be on notice. This will stop the harassing calls and foreclosure proceedings if you are behind in your mortgage payments.
When we file the Motion to reinstate does this stop foreclosure process?
Once this motion is recorded it should stop the foreclosure process. Actually, once the bankruptcy is filed, the foreclosure process should already be stopped.
How do you stop trustee foreclosure sale in a few days in AZ?
The fastest way to stop a foreclosure on short notice is to either cure the debt or file for bankruptcy protection.
Can you file bankruptcy to stop a foreclosure if your name is not on the mortgage?
No, sorry, that wouldn't help a bit, and just damage your credit score.
Can you save your house from foreclosure?
Yes you can save your home from foreclosure. This is a primary reason people file for a Chapter 13 Bankruptcy, the automatic stay can stop a foreclosure as long as it's filed before the sale takes place.
What happens after a foreclosure?
Foreclosure is the legal process whereby a mortgage company takes your home back from you and sells it to recoup the money they loaned to you. if you intend not to foreclose it better file bankruptcy from the experts
