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Or the lender could choose to file for the automatic stay to be lifted and if granted proceed with foreclosure action before the BK is discharged.


If a person is current on the payments, and stays current, there is NO violation of the mortgage contract, and the lender would not foreclose. Miss a payment or two, and it will be treated as any other delinquent account. But until then, the status quo is maintained, the Chapter 7 not relevant.

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โˆ™ 2011-05-01 06:55:41
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Q: If mortgage was listed by pro se Chapter 7 debtor as secured debt with intent to reaffirm but the bank never presented reaffirmation agreement can the bank foreclose once the bankruptcy is discharged?
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If you have been been discharged of All Debt without payment can a bank foreclose on your home?

If the home was part of the bankruptcy - possibly. It all depends on what the wording of the mortgage agreement may be.

Is there a time limit for banks to foreclose on your home after filing bankruptcy been discharged?

The bankruptcy law does not set a time limit for banks to foreclose on your home after filing bankruptcy. In fact, banks are prevented from foreclosing or continuing a foreclosure already in process upon the filing of a bankruptcy without first obtaining an order from the bankruptcy court allowing it to foreclose or continue a foreclosure already commenced.

Do you have to file bankruptcy in order to foreclose?

If the mortgage is not paid.....then the home will foreclose and the owner will need to vacate. This is not a bankruptcy. So, the answer is no. You do not have to file bankruptcy in order to foreclose.

Can second mortgage lien holder foreclose on your home after bankruptcy is closed?

The short answer is yes they can because once the bankruptcy is discharged you no longer are protected for debtors who wish to collect on a debt.

Do you still owe the lender if the court rejected your reaffirmation agreement?

Yes. The reaffirmation agreement allows you to continue to make payments on a secured loan and retain the secured property. The rejection of the agreement simply means the creditor can apply for relief from stay and repossess or foreclose on the property. If you have been making post-filing payments, the creditor may not bother and, in some states, under state law cannot proceed against the property.

Does reaffirmation apply to ch 13 And if so and your mortgage was not reaffirmed can the mortgage company foreclose if mortgage payments are current How about after discharge of the debt?

Reaffirmation does apply to Chapter 13 bankruptcies, and the benefit of filing a Chapter 13 case is that you are usually able to retain your home (as opposed to a Chapter 7 case, where all of your assets are normally sold). Customarily, the debtor and lender enter into an agreement within the bankruptcy to cure the arrearages over a period of time while the debtor continues to make monthly payments. That said, if the debtor falls behind on the payments, the lender can petition the court for relief from the automatic stay and proceed to foreclosure. A lender may never foreclose if the mortgage payments are current and the debtor is in compliance with the other provisions of the mortgage. If your lender is foreclosing and you believe that you have made your payments on time (or adequately cured the arrearage in the bankruptcy), then you should contact an attorney immediately.

Can you file bankruptcy if your home is being foreclose?


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

If you are not able to make your house payment do you have to file bankruptcy or will the bank foreclose on the house and not garnish your income?

Bankruptcy only temporarily prevents foreclosure action. A house is considered secure property so it is up to the lender as to what action will be taken, foreclosure or reaffirmation of the loan. The bank would pursue foreclosure and not wage garnishment. If you're in a house you can't afford any longer, sell it. Too many homeowners wait too long. Don't wait for the bank to foreclose.

Can you declare bankruptcy on your mortgage in californiat?

Yes, your obligation under the promissory note will be discharged, however, the security interest will remain. This means the lender can still foreclose on the property if payments are not made. If you plan to surrender the property to the lender, then this isn't an issue.

Can they foreclose on a home filed under chapter 7 bankruptcy?

It will, at most, briefly delay the process.

When you miss a payment while your under Chapter 13 in GA for your mortgage can the mortgage come and foreclose?

Yes, they can petition the court for the ability to foreclose while you are still in bankruptcy. This is called "relief from stay". If you do miss a payment, I would encourage you to call your lender and work it out. They cannot call you while you are in bankruptcy. They do not want to foreclose in this environment and are very willing o work things out.

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