QUESTION
Can I still live in my foreclosure home if I file for bankruptcy?
Asked on Jun 05th, 2012 on Bankruptcy - Michigan
More details to this question:
I am currently still living in my foreclosure home, if I file for bankruptcy would I have to move out even thou I’m not forced to leave by the bank or sheriff’s office as yet?
20 ANSWERS
Consumer Bankruptcy Attorney serving Worcester, MA
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Law Offices of James Wingfield
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No, you are not required to leave until a court (usually the Housing Court or in some parts of Massachusetts the District Court) issues an eviction notice. If the foreclosure took place before the bankruptcy case was filed, the Bank will need to either move the Bankruptcy Court for Relief from the Automatic Stay or wait until your case is complete before trying to evict you.
Answered on Jun 15th, 2012 at 5:43 PM
Yes, you do not have to leave until the sheriff's sale.
Answered on Jun 15th, 2012 at 2:57 PM
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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It depends on several things: the state where you live, the status of the foreclosure, the requirements of the new owner of the property. Bankruptcy might buy you some time, but without more information it is impossible for me to give you any advice. Please understand that bankruptcy is a very complicated process. You should only use it when there is a real need. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step. Most Arizona bankruptcy attorneys offer a free consultation about the basics of bankruptcy.
Answered on Jun 15th, 2012 at 9:41 AM
Bankruptcy Attorney serving Washington, DC
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Law Offices of Diann C. Moseley
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If the property has already been foreclosed, then you filing bankruptcy will not affect when the mortgage company exercise its rights to evict you from the foreclosed property. If the property has already been foreclosed, then the company owns the property and the property is not part of your bankrupt estate.
Answered on Jun 13th, 2012 at 3:17 PM
You can file for bankruptcy and have essentially no impact on your rights through the foreclosure process.
Answered on Jun 13th, 2012 at 12:36 PM
Bankruptcy Attorney serving Livonia, MI
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Charles J. Schneider, P.C.
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Most likely your right to live in the foreclosed home is dependent upon state law and not bankruptcy law.
Answered on Jun 13th, 2012 at 12:03 PM
Family Law Attorney serving Hackensack, NJ
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The Law Offices of Stuart Jon Bierman
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Usually, and in general, you can still live in the home after you file for bankruptcy. Usually, and in general, the bankruptcy process will not shorten the amount of time that you can live there and you can stay there until the foreclosure process reaches the stages of a sheriff's sale and then an eviction of the former owner or occupant.
Answered on Jun 13th, 2012 at 11:16 AM
Criminal Law Attorney serving Fremont, CA
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Steven J. Alpers, A Professional Corporation
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You will be able to live in your home if it is not sold, you may be able to work out a payment plan to bring it up to date if it is a chapter 13. If it is either a 7 or 13 you should not be physically removed until the purchaser at the foreclosure sale requests permission to proceed.
Answered on Jun 13th, 2012 at 11:00 AM
Bankruptcy Attorney serving Bonita, CA
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Debt Relief Legal Clinic
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*Common advice is to stay in your property (or keep it occupied) and maintain insurance up until a 'change of ownership' event actually happens (actual foreclosure auction, or court judgment, depending on what state the property is located). This way you maintain control over the property until it eventually leaves your name. As well, the bankruptcy code requires the 'owner' of real estate that incurs ongoing homeowner associate dues (HOA) remain liable for those dues after filing a bankruptcy case, even if the eventual plan is to surrender the property. These 'ongoing assessments' are considered 'post-petition' debt, and not dischargeable in a bankruptcy case.* * * *The new owner (bank, investor, or individual) will provide notice for the occupier to pay or quit, or kindly send a request you leave, at which point you should then arrange for new accommodations. It is important you seek competent counsel in your jurisdiction to determine your qualifications and rights under Title 11 of the United States Code. *
Answered on Jun 13th, 2012 at 10:51 AM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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Filing bankruptcy should not have any effect, but you should see an attorney to disclose all of your information and get a reliable and firm opinion.
Answered on Jun 13th, 2012 at 10:48 AM
Criminal Defense Attorney serving Deltona, FL
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R. Jason de Groot, P.A.
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Yes and no, respectively to the questions asked. If you want to stay in the home you may be able to stay longer by filing bankruptcy but that is never a valid reason for filing.
Answered on Jun 13th, 2012 at 10:40 AM
Real Estate Attorney serving South Jordan, UT
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James T. Dunn P.C.
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Until there is a court order removing you from the house you can.
Answered on Jun 13th, 2012 at 10:06 AM
Barbara A. Fontaine
You can probably stay. Sometimes banks would rather have someone in the home than to leave it vacant. They will probably let you know if there is a foreclosure sale, but there are notices of the sales in newspaper, so keep looking in the paper to see if your home is listed. It may take a year or more!
Answered on Jun 13th, 2012 at 10:04 AM
I am not a bankruptcy attorney. However you can stay in possession of the property until you receive a notice of Summary Proceedings in District court to have you removed from the property.
Answered on Jun 13th, 2012 at 9:54 AM
1 Award
Depends. If the foreclosure has not yet been completed, that would have to occur first-though Bank would have to get BK court permission to complete the foreclosure. If foreclosure has been completed, Bank would first have to get BK court permission to complete the eviction-though in some cases, if writ of possession has already issued in the eviction action (before the BK was filed), some sheriff's department will still proceed with the lockout in spite of the BK filing.
Answered on Jun 13th, 2012 at 9:53 AM
Real Property Attorney serving Fernandina Beach, FL
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Poole & Poole, P.A.
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Yes. I am currently still living in my foreclosure home, if I file for bankruptcy would I have to move out even thou I'm not forced to leave by the bank or sheriff's office as yet? Not likely.
Answered on Jun 13th, 2012 at 9:52 AM
Immigration Attorney serving Arlington, TX
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Law Office of Pho Ethan Tran, PLLC
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Many homeowners continue to live in their homes while their bankruptcy case is pending until the bank evicts them.
Answered on Jun 13th, 2012 at 9:52 AM
Bruce Arthur Plesser
You are the victim of predatory lending.
Answered on Jun 13th, 2012 at 9:47 AM
4 Awards
No. You still have legal title until it officially forecloses (at which point you would have to leave anyway).
Answered on Jun 13th, 2012 at 9:47 AM
When you file for Chapter 7, a "Stay" goes into effect until your case is Discharged. If the mortgage company wishes to evict you, a "Motion for Relief from Stay" is filed before the Discharge is entered. After that is granted, then the mortgage company can continue with the normal foreclosure action and subsequent eviction.
Answered on Jun 13th, 2012 at 9:45 AM