Yes, bankruptcy will stop foreclosure. Of all the methods people pitch, bankruptcy is the only one that is guaranteed to work. The reason bankruptcy is so effective in stopping a foreclosure is because of the "Automatic Stay," which says that all collection activity on all of your debts is automatically stopped (or "stayed") the minute ...
Category Archives: Houses
Are You In Foreclosure?
If you have recently been served with written notices in a foreclosure action, your lender has commenced the process to "redeem its collateral." Typically, a foreclosure proceeding takes 20-30 days to complete from the time that you receive a notice. Therefore, it is important to act quickly. Every day that goes by brings you ...
Can I do a SHORT SALE while I’m in Chapter 7 bankruptcy?
Really, there is no reason in the world to do a short sale. That's where you sell the house to somebody for less than what is owed against the house. The purpose of a short sale is to get you out of the property without you having to pay any mortgage deficiency. But since ...