home in foreclosure can i filed a chapter 7 to get rid of foreclosure
Bakersfield, CA
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Posted 30 days ago in Bankruptcy / Chapter 7
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home in foreclosure can i filed a chapter 7 to get rid of foreclosure i cannot afford to pay off home
Answers (2)Lee M Perlman
This attorney is licensed in New Jersey.
Posted 29 days ago.
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The filing of the bankruptcy will likely protect you from the deficiency or the difference between what you may owe on the mortgage and what it will or may bring at a sheriff sale. After the filing the automatic stay the prevent lender and their attorneys from contacting you. Post discharge we would want the credit report to reflect a designation of "included in bankruptcy".
Harley Aaron Feinstein
This attorney is licensed in California.
Posted 29 days ago.
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There is a risk that you may be personally sued after a foreclosure. See discussion here:
http://harleyfeinstein.com/artman/publish/bankruptcy-san-diego/UPSIDE_DOWN_MORTGAGES.shtml But a chapter 7 bankruptcy takes care of the problem. |