Helpful Resources


Community




Creditmagic Twitter





Credit on Facebook




Hello to all. Thanks for having me!

Post reply  Start a topic
Author Message
Options
Print this topic
Invite a friend
Email this topic
  Bookmark online
Add to del.icio.us
Add to YahooMyWeb
 
Cuchicuchi



Joined: 29 Jan 2010
Cuchicuchi's page
Posts: 2



22 Magic Points

Subject: Hello to all. Thanks for having me!
 
Posted on Fri Jan 29, 2010 12:23 am  

Can I file for chapter 7 after my property has being foreclosed?
I hear it its better to do it before it happens but just dont know!
Thanks.
carol

carol

Joined: 27 Jun 2006
carol's page
Posts: 1307
Location: Los Angeles, California


29555 Magic Points

 
Posted on Fri Jan 29, 2010 12:19 pm  

Hi Cuchicuchi

Yes, you can file chapter 7 after forclosure. You may have to lose your home no matter what but this will still give you some time to negotiate with your lender - say 2-3 months time. You may also utilize the time to save up some money.
_________________
Keep in touch
Carol
Justin

Justin

Joined: 17 Jul 2006
Justin's page
Posts: 1240



28942 Magic Points

Subject: Filing chap 7 Bankruptcy
 
Posted on Sat Jan 30, 2010 7:15 am  

Hi Cuchicuchi,

You can obviously file for chapter 7 bankruptcy after foreclosure. The automatic stay can stop the foreclosure proceedings, that started against you, for some time at-least.

This will provide you with time to save some money as carol has said. If the lender applies for a relief from stay and if it is granted you can face problems. In case of nonpayment of dues your property will be foreclosed. However if possible you can talk to your lender for a loan modification and start paying the dues. But if you ever fail to continue paying the debts, the lender can continue with the foreclosure proceedings again.
_________________
All the Best Smile
Justin

Quick Reply
Your Name
Subject
Message body
Page 1 of 1

 





Page loaded in 21.041 seconds.