Bankruptcy does not cancel foreclosure

Posted by RSI on December 12, 2007 at 10:16:37: In Reply to: Destroyed home due to disaster in MN posted by Karen on December 11, 2007 at 07:38:14: Even if filing bankruptcy, the only provision a lender has to sever an owner's rights to a property is through the foreclosure process.

If the loan is defaulted and remains so, reasonable expectations would be that the property will (eventually) move through the foreclosure process.
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