QUESTION
Can I file for bankruptcy protection after the final judgment on foreclosure?
Asked on Sep 16th, 2011 on Bankruptcy - California
More details to this question:
Can you file for bankruptcy protection after final judgment on foreclosure?
11 ANSWERS
Bankruptcy Attorney serving Livonia, MI
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Charles J. Schneider, P.C.
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Either before or after.
Answered on Jun 23rd, 2013 at 11:50 PM
Bankruptcy Attorney serving Seattle, WA
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Symmes Law Group, PLLC
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Yes you can.
Answered on Jun 23rd, 2013 at 11:46 PM
Daniel James Wilson
Yes, but your house is gone.
Answered on Jun 23rd, 2013 at 11:34 PM
Immigration Attorney serving Salinas, CA
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Law Office of Magnolia Zarraga
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You can file for bankruptcy at anytime in the foreclosure process. A bankruptcy is designed to get rid of your debt, but a fringe benefit of a bankruptcy is that is temporarily stops a foreclosure sale. But if you file bankruptcy and the house has already sold, the bankruptcy might only give you a few more days/weeks in the house because technically the home is no longer yours thus the lender or new buyer will go to bankruptcy court and file for relief of stay to get the house. You need to consult with a bankruptcy attorney today so they can review your situation and give you your options. Good luck.
Answered on Sep 20th, 2011 at 1:14 PM
Bankruptcy & Debt Attorney serving Longmont, CO
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William Edward Zurinskas
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Filing Bankruptcy after foreclosure to discharge a mortgage debt is common, but first make sure you owe a balance on the mortgage. In Colorado, deficiency balances owed on first mortgages are allowed by law, but in most cases there is no deficiency balance. Balances owed on junior mortgages (2nd mortgage) are almost always owed after foreclosure unless the mortgage company forgives the debt. Bankruptcy will discharge deficiency balances owed on 1st mortgages, as well as junior mortgages.
Answered on Sep 19th, 2011 at 3:15 PM
Consumer Bankruptcy Attorney serving Worcester, MA
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Law Offices of James Wingfield
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You can file a bankruptcy at any time. If your goal is to stop a foreclosure from occurring, you can file it at any time *prior* to the foreclosure sale taking place. In Massachusetts the only judgment related to a foreclosure that you will see will be under the Servicemembers Civil Relief Act of 1940. The only issue that is under consideration in a suit under the Servicemembers Civil Relief Act is whether the homeowner (or any one of the homeowners) is entitled to relief under the Act (in other words, is any one of the owners of the house serving active duty in the military). If so, the foreclosure cannot go forward. If not, then the foreclosure can go forward and the house can be sold at an auction that will be scheduled shortly after the judgment enters.
Answered on Sep 19th, 2011 at 11:40 AM
Yes, it is common to file bankruptcy to avoid deficiency judgment liability.
Answered on Sep 19th, 2011 at 11:32 AM
Bankruptcy Attorney serving Concord, CA
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William Rubendall Attorney at Law
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If there is a deficiency after a foreclosure you may want to consult an attorney about filing chapter 7 bankruptcy.
Answered on Sep 19th, 2011 at 8:36 AM
Bankruptcy Attorney serving Hayward, CA
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Carballo Law Offices
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In California there is generally no foreclosure judgment necessary because foreclosures of mortgages (deeds of trust to be more precise) are non-judicial and the property is sold by an appointed "trustee" selected by the creditor. Homeowners' Associations may foreclosure judicially. You need to give more information and background, including what you mean by "protection". Bankruptcy will halt all further legal action but you cannot retain property subject to a lien unless you pay either the amount owed or the value of the property (in some cases).
Answered on Sep 19th, 2011 at 6:50 AM
Glen Edward Ashman
Yes, and sometimes that will be a good idea (it does not get the house back).
Answered on Sep 16th, 2011 at 3:53 PM
judith runyon
Yes, but it won't affect the foreclosure.
Answered on Sep 16th, 2011 at 3:41 PM