I want to file bankruptcy to stop a foreclosure, to buy more time to get a short sale, the deed is joint?
If I file bankruptcy, will it stop the foreclosure? We have been trying to sell the house since Jan. We have sent in two short sale offers and both were denied. The house is now in the foreclosure status and I am afraid we are running out of time. Also, if I file bankruptcy, will it affect my ex if he is still on the deed? If so…can he file a quick claim to release his name from it? Will the bankruptcy completely stop the foreclosure…or will it continue with my ex? Is there even an option where I can let the house go, have a clean slate and continue to start over once I file bankruptcy. Will they still go after my ex or just take the house?
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 I Want To File Bankruptcy To Stop A Foreclosure, To Buy More Time To Get A Short Sale, The Deed Is Joint? ;7 comments to I Want To File Bankruptcy To Stop A Foreclosure, To Buy More Time To Get A Short Sale, The Deed Is Joint? ; |
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The quit claim deed only absolves your ex from the title of the house but since this was a joint account, it doesn’t remove his name from the loan or the responsibility of it. His credit will most likely be affected by the bankruptcy as well even if he signs a quit claim deed. Your best bet is to work something out with the lender.
I think if you file bankruptcy you will lose your house anyway.
if you file bankruptcy and name the house in it…you can kiss the short sale good bye. the bank/mortgage company will take over and give you about 30-40 days to get out. peace
it wont stop it and your ex must agree on everything
you should first try a private investor to buy your home.you’ll take a loss. but you will save you credit… good luck
Hello,
I basically had to file bankruptcy because my house went into foreclosure. I don’t know where you live but the attorney I used is in Oakland, Ca. He will give you a free consultation and tell you what you need to do. He is very reasonable. His name is Patrick Forte. His number is (510) 465-3328. Again he is located in Oakland, Ca.
Good Luck. I know how this feels. But it all works out in the end.
It’s not as easy as it sounds. Depending on the state you live in, the bank can’t go after you for the deficiency anyway, so often your best bet is to let the bank have the house.
The BK may slow down the foreclosure, it will not stop it unless you file a BK 13 and file a re-payment plan with the court. If you can’t PROVE that you can afford to repay, the court will dismiss your bk and the foreclosure is back on.
Its very expensive to file BK, the there are requirements that you take debt counseling classes before you are even allowed to file.
Also if you file, by law, your bank can’t talk to you anymore, because you are now represented by an attorney, so all communication must go through the attorney (pursuant to Fair Debt Collection Practices Ace and BK code) this is also very expensive.
Your best bet is to try and work something out with the bank. They may postpone the auction, if your house is being actively marketed. They also may do nothing, depends on the bank.
There really is no good way out of this, sorry to be the one to tell you. But you can always talk to a BK attorney, the consultation is usually free.