Re: Foreclosure after Bankrupsty

Posted by Jen on March 24, 2008 at 07:41:29:

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

A Bankruptcy won't stop the foreclosure, it will only postpone it. Banks seem to be more willing to work with homeowners as of late to help them stay in their property, so you may want to keep being persistent with your lender to work out a payment plan that will keep you in your home.

A short sale is a good option and won't impact your credit as negatively as a foreclosure or a deed in lieu (which is like a voluntary foreclosure). There is also a good possibility that if you have a realtor or investor negotiate a short sale, they will be able to negotiate so that you won't have to pay the deficiency.

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