Foreclosures Discussion Archive 11

Re: foreclosure and bankruptcy

Posted by Janie on December 01, 2004 at 21:10:56:



In Reply to: foreclosure and bankruptcy posted by Terri on November 26, 2004 at 19:30:13:



You can get a mortgage, but it will probably be sub prime or even a hard lender, which means you pay through the nose.

If you absolutely sure you have no way out and foreclosure and bankruptcy are eminent, then if it were me, I would file BK before the Notice of Default is filed.

Having the BK on your record is not nearly as bad or foreboding as the foreclosure and BK.

Q: What are the chances of getting a new mortgage after bk and foreclosure if it comes to that?





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