QUESTION
How long does a bank have to repossess a house after bankruptcy?
Asked on May 18th, 2013 on Bankruptcy - North Carolina
More details to this question:
I filed bankruptcy over a year ago. There have been no payments on the home in over 2 years. They still have not foreclosed on the home which is in Pennsylvania and we live in NC. It was previously in foreclosure and we were told to vacate so we did and moved to NC. The foreclosure process was interrupted by the bankruptcy. Can 6 years pass and they repossess it? I would love to go back and live in my old home, but I am afraid that once I do, they will make a motion and take the house back. Is there a limit to how long they have to foreclose or can it be 10 years from now and they come and foreclose? Thank you.
1 ANSWER
Chapter 13 Bankruptcy Attorney serving Winston-Salem, NC
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Love and Dillenbeck Law
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You should post this question in Pennsylvania as its law would control. The lender really doesn't have a timeline to foreclose up to a certain point. In, NC the lender would have 10 years to foreclose or lose the ability to do so. Pennsylvania may or may not have a similar law.
Answered on May 20th, 2013 at 9:25 PM