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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.
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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
Bankrupty or foreclosure which is best?
bankruptcy is better. If you have to decide foreclose or banko, put your house in bankruptcy. When you have a foreclosure, they can sue you for the balance
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.
Does a timeshare foreclosure hurt your credit after a bankruptcy has been discharged?
Any foreclosure or bankruptcy affects your credit. And for anywhere from 7 -10 years.
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 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.
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.
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.
Who is the saint that protect homes from foreclosure?
Saint 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 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.
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.
