QUESTION

Will filing for bankruptcy avoid foreclosure on a home I inherited?

Asked on Nov 09th, 2012 on Bankruptcy - Pennsylvania
More details to this question:
The house and the loan are in my deceased grandfather's name. I inherited both and am now facing foreclosure.
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1 ANSWER

Bankruptcy Attorney serving Burbank, CA
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If you have already inherited the property, then it is in your name and yes filing a bankruptcy will impose the automatic stay which will stop the foreclosure sale temporarily. Depending on which Chapter you file and what type of payment plan you propose (if a Chapter 13 or Chapter 11 case) and other factors will determine how long the foreclosure will be postponed, or eliminated. Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.  CONTACT MARK for more information or to schedule an appointment.   
Answered on Nov 09th, 2012 at 5:50 PM

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