Yes, you may file bankruptcy to postpone the foreclosure process. Filing a bankruptcy petition puts a "stay" in place preventing the disposition of all your assets, including your home. The stay would delay the foreclosure process.
If you are considering filing for bankruptcy you should immediately consult a local bankruptcy attorney to determine how best to proceed and if bankruptcy is an appropriate path to pursue.
This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.
Answered on Oct 05th, 2012 at 4:22 PM