When you file, the "automatic stay" comes into effect and, generally, prohibits the continuation of a foreclosure. Exceptions to that might include if the new bankruptcy is one of two or more in the last year you have filed. You don't mention prior bks. Thus, your filing before a foreclosure should put the FC on hold.
My response is general information not intended as legal advice or to create an attorney-client relationship. Seek advice from a qualified attorney to see how the law fits your specific facts. I am licensed to practice law in Washington and Oregon.
I agree with my colleague. You should file, and that will stop the foreclosure for an indefinite period of time. You should retain a bankruptcy attorney who also has experience in mortgage foreclosure defense.
Leonard R. Boyer, Esq. 201-.675-.5577. If you found this Answer helpful, please mark it as "Best Answer" Please be advised that the answer above is only general in nature cannot be construed as legal advice, given that not enough facts are known. It is your responsibility to retain a lawyer to analyze the facts specific to your particular situation in order to give you specific advice. Specific answers will require cognizance of all pertinent facts about your case. Any answers offered on Avvo are of a general nature only, and are not meant to create an attorney-client relationship.
If you file bankruptcy before the foreclosure sale is held, the lender will need to postpone the foreclosure until they receive stay relief. This means that if you have an HOA on your home, you will continue to be liable for the HOA fees until the home is actually foreclosed. Good Luck!