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foreclosure and chapter 7 bankruptcy
Seattle, WA
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Posted 3 months ago in Bankruptcy / Chapter 7
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I know that a bankruptcy can delay a foreclosure but what could we expect if we file for bankruptcy after the foreclosure occurs but before we find a new home? Could the new owner (or more probably the current lender) evict us? If so, what would be the process?
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Answers (2)
Kimberly M Raphaeli
This attorney is licensed in Washington.
Posted 3 months ago.
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You would be far better off negotiating with the individual or entity that bought your home at foreclosure auction. You can negotiate for a landlord/tenant arrangement, additional time to move out, or even financial assistance to relocate to a new home. If the property becomes bank-owned many times the bank will offer a cash incentive if you agree to leave the house clean and move out quickly. You may lose the possibility of entering into any of these agreements by filing bankruptcy.
Gregory J. Jalbert
This attorney is licensed in Washington.
Posted 3 months ago.
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My best advice to you is to seek the advise of a competent bankruptcy lawyer. Most bankruptcy lawyers offer a first visit free consultation. Make sure that you select an attorney that has been practicing law for a considerable period of time and who's emphasis is on bankruptcy law. When you call to make an appointment be sure to find out what documents you should bring to your meeting in order to get the maximum benefit from your free consultation.
You can sometimes get substantial additional time on a foreclosure by filing a bankruptcy proceeding but alot depends on our particular situation. |
