avoid foreclosure bankruptcy
Saturday, August 28th, 2010
Add Mortgage into bankruptcy?
I decided to file for Chapter 7 and the main reason is my home, among many other obligations, I can not allow more. I'm two months late on my mortgage. The custom allowe me to bank short sale home. "I can add to the mortgage in my bankruptcy and avoid foreclosure mortgage? I guess this way I'll have to deal with the bakruptcy registration. Some advice please …?
bankruptcy does not prevent foreclosure. You can buy additional time. Please provide the reason if not do a short sale. Did you make an offer to them? Was it too low, made the trek Buy, etc? Short sales are not privileges, but are more banks are offering options to avoid foreclosure. The bankruptcy will protect you the bank trying to collect the debt in arrears, but ultimately, maintain a lien and may enforce their rights after the bk is done.
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