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The bankruptcy stay prevents any action by the lender until the BK is finalized. Be advised that a mortgage lender can petition the court to have said stay lifted so foreclosure proceedings can continue. That rarely happens though.
Unless the debtor reaches an agreement with the mortgage holder to reafirm the lending agreement the foreclosure will likely occur after the BK discharge.
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∙ 11y ago
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How bad is it to do a foreclosure and a bankruptcy at the same time?
You technically should not be able to do both at the same time. The bankruptcy should stop the Foreclosure proceedings in its track.
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 can bankruptcy help stop a foreclosure?
Filing for Chapter 7 bankruptcy forces all of your creditors to stop harassing you, as all proceedings are temporary put to a halt while the bankruptcy is processed. However, you typically have to take the initiative and show proof of your bankruptcy to the bank for them to stop harassing you.
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.
Can filing for bankruptcy stop foreclosure?
Generally speaking, filing for bankruptcy protection temporarily halts ALL collection actions for all creditors, including foreclosures.
How bad is it to do a foreclosure and a bankruptcy at the same time?
You technically should not be able to do both at the same time. The bankruptcy should stop the Foreclosure proceedings in its track.
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.
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.
How do you get lenders to stop harassing you about payments during foreclosure?
You need to contact your attorney about having them stop. There is no law unless you have declared bankruptcy that they have to stop.
How can bankruptcy help stop a foreclosure?
Filing for Chapter 7 bankruptcy forces all of your creditors to stop harassing you, as all proceedings are temporary put to a halt while the bankruptcy is processed. However, you typically have to take the initiative and show proof of your bankruptcy to the bank for them to stop harassing you.
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.
Can filing for bankruptcy stop foreclosure?
Generally speaking, filing for bankruptcy protection temporarily halts ALL collection actions for all creditors, including foreclosures.
How do you stop or postpone foreclosure?
There are several ways to stop foreclosure. Following are the most common ways: 1- Apply for a home loan modification 2- Sell your home using the short sale process 3- File Bankruptcy 4- File an emergency bankruptcy 5- Hire a company to legally stop and postopne the foreclosure sale by challenging the trustee about the legitimacy of the foreclosure process. Ulitmately, always seek the advice of an attorney, credit, and tax professional before you decide what avenue to take to avoid foreclosure.
Will filing for bankruptcy stop a forcloser Judgment against you?
If the judgment has not yet been granted by a court, it will stop the foreclosure. The mortgagee will have to file a motion for relief from stay to continue. If the judgment has been granted, it may stop the auction of the property. If the property has been sold, it will not have any effect. The answer can depend on your jurisdiction's laws regarding foreclosure, not on federal bankruptcy law, so consult a local bankruptcy attorney.
What kind of options are available for me to stop foreclosure on my house?
Your best option would be to higher a bankruptcy attorney. They can provide assistance in this area even without a decleration of bankruptcy. In fact, often a letter from your attorney threatening bankruptcy will be enough to bring your mortgage holder to the bargaining table, as bankruptcy would automatically stop the foreclosure proceeding and put it in the hands of a judge. If you wish to stop foreclosure on your house, then you have one of two options. Either 1) contact your mortgage company, and attempt to lower your monthly payments, or 2) speak with an attorney, and hope that you have a case.
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
