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legal proceedings initiated by a creditor to repossess a house or another property due to a loan in default.

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16y ago

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Which is better to do foreclousre bankrupties or deeding your home back I have put my home up for sale but I am 4months behind?

If the mortgage holder will accept a deed in lieu of foreclosure, that would be the road to take. If, like most people in foreclosure these days, you are "upside down" on the mortgage (owe more than the house is now worth) and cannot sell it, file bankruptcy. If you have the income to do a plan and keep the house, do a C. 13. If not, surrender the house in a C. 7 and have any deficiency discharged.


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