QUESTION
If house is already in foreclosure, can you still file bankruptcy and keep house?
Asked on May 08th, 2013 on Bankruptcy - California
20 ANSWERS
Bankruptcy Attorney serving Hampton, VA
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Haven Law Group, P.C.
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As long as you file before the auction date.
Answered on May 16th, 2013 at 5:09 AM
Bankruptcy Attorney serving Seattle, WA
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The Law Office of Marc S. Stern
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Bankruptcy will stop the foreclosure. What type of chapter you file will determine whether the property can be saved.
Answered on May 15th, 2013 at 4:51 AM
Bankruptcy Law Attorney serving Austin, TX
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Law Office of Susan G. Taylor
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If by "in foreclosure" you mean it has not yet been sold, then yes, you can file bankruptcy to give you more time in the home or, if you can afford the payments (regular mortgage payment & a portion of the arrearage), you can keep the home.
Answered on May 14th, 2013 at 6:27 AM
Yes, it is possible to reorganize and keep your house out of foreclosure in a chapter 13 bankruptcy.
Answered on May 10th, 2013 at 1:43 PM
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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Yes, but please understand that bankruptcy is a very complicated process.
Answered on May 10th, 2013 at 9:57 AM
Bankruptcy Attorney serving Plantation, FL
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Moffa & Breuer, PLLC
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If you can get caught up on the payments.
Answered on May 10th, 2013 at 9:57 AM
Yes, if you have been served with a foreclosure notice and the house has not been sold yet you can file bankruptcy. You can file a Chapter 13 case with the intent of catching up the mortgage arrears over time through a Chapter 13 plan.
Answered on May 10th, 2013 at 9:57 AM
Absolutely that is what chapter 13 is 4.
Answered on May 10th, 2013 at 7:08 AM
Deborah F. Bowinski
If you wish to keep the house in a bankruptcy you will have to find a way to catch up on the mortgage arrears quickly in a chapter 7 or propose a chapter 13 to catch up over time. You should consult with an attorney IMMEDIATELY because in order to save the house a bankruptcy must be filed BEFORE the foreclosure sale takes place.
Answered on May 10th, 2013 at 6:55 AM
Bankruptcy Chapter 7 Attorney serving Louisville, KY
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Thornhill & Holt, PLLC
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You can still save your house through bankruptcy - even if it's already in foreclosure!
Answered on May 10th, 2013 at 6:38 AM
Debt Settlement Attorney serving Chicago, IL
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Law Offices of Daniel J. Winter
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Whether you can keep your house depends on many factors: Are you able to get a loan modification? How much is the house worth? How much is owed on it? You need to consult with an experienced bankruptcy attorney in person before making any decisions.
Answered on May 10th, 2013 at 6:32 AM
Chapter 13 Bankruptcy Attorney serving Bloomington, MN
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Gregory J. Wald
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You can use Chapter 13 to take the home out of foreclosure and get caught up on your mortgage payments through a debt consolidation plan over an extended period of time. However, you must file the Chapter 13 case before the foreclosure sale (sheriff's sale) is completed.
Answered on May 10th, 2013 at 6:29 AM
Corporate Law Attorney serving Billings, MT
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Oliver & Associates, P.C.
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Yes but you have to file the case before the date the foreclosure takes place.
Answered on May 10th, 2013 at 5:50 AM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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It depends on where you are in the process, generally bankruptcy acts to show, but not stop, foreclosure, Seek counsel.
Answered on May 10th, 2013 at 5:49 AM
Chapter 7 Bankruptcy Attorney serving Milwaukee, WI
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Law Offices of Deborah A. Stencel
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You can possibly file a Chapter 13 to save the house from foreclosure. Call an attorney to discuss your options, which may include Chapter 13, mortgage modification, or both.
Answered on May 10th, 2013 at 5:18 AM
Bankruptcy Attorney serving Livonia, MI
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Charles J. Schneider, P.C.
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A chapter 13 can prevent a foreclosure sale but must be filed prior to the sale date.
Answered on May 10th, 2013 at 5:17 AM
bankruptcy Attorney serving Paul, ID
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Paul N. J. Ross Law, PLLC
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Yes, you can file a bankruptcy on a home in foreclosure. If the foreclosure sale has already happened, that hurts your hopes and chances. For the most part, a Chapter 13 is your only real option to keep a home in foreclosure, a Chapter 7 will not give you the relief you seek.
Answered on May 10th, 2013 at 5:15 AM
Bankruptcy Law Attorney serving Livingston, NJ
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Law Office of Stuart M. Nachbar, P.C.
2 Awards
In NJ, yes it is possible to stop the foreclosure with bankruptcy and perhaps repay the arrears or do a loss mitigation.
Answered on May 10th, 2013 at 4:58 AM
Yes. Stopping a Foreclosure Sale is a common reason to file bankruptcy. Whether or not you will ultimately be able to keep the house depends on many things, including, but not limited to, the type of bankruptcy proceeding that you file, whether or not you can afford to resume making monthly payments and catch up on back payments over time, and whether or not the court grants a Relief from Stay Motion allowing your lender to proceed with its state court remedies against you, including, but not limited to, foreclosing on your home.
Answered on May 10th, 2013 at 4:08 AM
Personal Injury Attorney serving Glendale, CA
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JT Legal Group
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Yes, but it's more complicated than that. If all you want to do is live there a little longer, it's not worth it. If you want to actually start making payments and make enough money to "cure" (whatever that means) in 5 years, then a Chapter 13 is perfect for you.
Answered on May 10th, 2013 at 4:07 AM