Yes, if a bankruptcy is filed before the date and time set for a foreclosure sale, the bankruptcy will at least temporarily stay the foreclosure proceeding on yourr property. Some homeowners facing foreclosure will file a chapter 13 bankruptcy case to stop a foreclosure sale and catch up over a 3 to 5 year period. Others use chapter 7 to temporarily stop a foreclosure to allow breathing room to catch up payments, apply for a loan modification, or arrange for alternate housing arrangements.
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