Foreclosure

questions & answers

Question: MY HOUSE IS IN FORECLOSURE NOW, WITH A SALE DATE OF NOV 13. CAN I DECLARE BANKRUPTCY AND KEEP MY HOUSE?

Answer: When a bankruptcy is filed an automatic stay goes into effect which stops collection efforts including a trustee sale.  However, completing a bankruptcy will only give the borrower relief from paying the loan.  A borrower generally cannot file bankruptcy to wipe the loan and keep the house.  A borrower/home owner in danger of foreclosure and contemplating bankruptcy should seek the advice of an attorney for specific legal advice.  There is a bankruptcy hotline(866-553-0893) on the front right column of AZLawHelp and on the US Bankruptcy Court of Arizona's home page.  Additionally, a homeowner facing foreclosure may apply for legal resources through the online intake system, there is a link under the LegalLEARN Hotline on the front of AZLawHelp.

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QUESTIONS

  • MY HOUSE IS IN FORECLOSURE NOW, WITH A SALE DATE OF NOV 13. CAN I DECLARE BANKRUPTCY AND KEEP MY HOUSE?

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