Re: Foreclosure after Bankruptcy

Posted by NJDave on March 22, 2008 at 04:37:20:

In Reply to: Foreclosure after Bankrupsty posted by JacquelineT on March 21, 2008 at 13:54:55:

IF you sought a Chapter 13, its likely your lender would already have started accepting your monthly payments, and you would likely be making payments to the Bankruptcy Trustee. I infer you filed a Chapter 7 in which case your personal responsibility to repay the mortgage has been discharged.

The lender will petition the bankruptcy court to lift the automatic stay of relief and proceed to foreclose.

You could expose yourself to the short sale process, offer a Deed In Lieu of foreclosure to your lender, or be persistant in your effort to Fight Foreclosure and keep asking yourlender to help you bring the loan current and resinstated..


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