Can chapter 7 save my home from foreclosure? 44 Answers as of March 18, 2013

I am 90 days past due on mortgage and need to know if filing bankruptcy would stop the foreclosure.

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Gateway Legal Group | Christian J. Albut
Filing a bankruptcy will place all collection accounts under an automatic stay, therefore the lender would have to file a motion for relief from stay in order to continue the foreclosure. This process will only elongate the foreclosure. The only want to save the home is to either get a loan modification with the lender or pay the deficiency.
Answer Applies to: California
Replied: 3/18/2013
Philip R. Boardman, Attorney at Law
Philip R. Boardman, Attorney at Law | Phil Boardman
No, you need to file a chapter 13 in order to save a house from foreclosure.
Answer Applies to: Virginia
Replied: 3/14/2013
Durham Jones & Pinegar | Erven Nelson
Yes, a bankruptcy would stop a foreclosure temporarily.
Answer Applies to: Nevada
Replied: 3/8/2013
Law Office of Christian F. Paul
Law Office of Christian F. Paul | Christian F. Paul
Yes, filing a bankruptcy petition stops foreclosure proceedings, stays any lawsuits pending against you, and puts a stop to any of your creditors who want to dun you for payment. After you file the petition, you will need to decide whether you want to keep your house or let it go, and if you want to keep it, you'll have to make house payments. Even though eventually your debt with the lender may be discharged, the lien against the house (via the bank's deed of trust, often called a mortgage) remains, and if no one pays the bank, it can take the house from you. You should make an appointment to see a local bankruptcy attorney many give free consultation and take whatever documents he or she requests with you, to get an evaluation of your specific case. The attorney will tell you whether and when to file bankruptcy, and will tell you what it will cost. (It's not really that expensive, and if it is right for you, will be a real relief.) Hope this helps. Good luck.
Answer Applies to: California
Replied: 3/8/2013
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
You need a ch 13 to do that. In ch 13 you will have a payment plan to catch up.
Answer Applies to: California
Replied: 3/8/2013
    Orrock, Popka, Fortino, Tucker & Dolen
    Orrock, Popka, Fortino, Tucker & Dolen | Myron Wayne Tucker
    Yes, the foreclosure would stop when you file bankruptcy. It may not stop it forever, but it will give you some additional time.
    Answer Applies to: California
    Replied: 3/7/2013
    William A. Siebert
    William A. Siebert | William A. Siebert
    Chapter 7 only slows the foreclosure; you need to file Chapter 13 to stop it.
    Answer Applies to: Michigan
    Replied: 3/7/2013
    The Law Offices of Katie M. Stone
    The Law Offices of Katie M. Stone | Katie M. Stone
    A foreclosure is a legal procedure where a complaint would have to be filed with the court by the banks attorney and you would have to be served. If you are only 90 days late, this probably has not happened yet. I would call your lender and ask them for work out options to get you caught up. However, to answer your question, yes a bankruptcy would stop a foreclosure but it would not help you catch up on your back payments. A mortgage is a secured loan and although your obligation to pay will be discharged in a bankruptcy (assuming you do not reaffirm it) if you do not catch up or make arrangements with your lender, a chapter 7 will not help you. If you want to look into a chapter 13 bankruptcy, that might be a better route for you to go to get caught up on your payments. You can also do a mediation with your lender for a potential modification through a chapter 13 bankruptcy. I hope you found this answer useful.
    Answer Applies to: Florida
    Replied: 3/7/2013
    Law Office of Sean P Fleming
    Law Office of Sean P Fleming | Sean P Fleming
    A Chapter 7 bankruptcy filing temporarily stops the foreclosure process. However, in order for you to be able to keep the home, the mortgage company must work out a loan modification with you. Otherwise, you will not be able to keep the property.
    Answer Applies to: Illinois
    Replied: 3/7/2013
    Moore Taylor & Thomas PA
    Moore Taylor & Thomas PA | Jane Downey
    13 might be better
    Answer Applies to: South Carolina
    Replied: 3/7/2013
    Lyndon Ruhnke, PC
    Lyndon Ruhnke, PC | Lyndon Ruhnke
    Yes, filing bankruptcy will stop a foreclosure.
    Answer Applies to: Oregon
    Replied: 3/7/2013
    Mari Morrison Attorney at Law | Mari Morrison
    It can stop the foreclosure but unless you can find a way to either bring your payments current, or to pay current amount of mortgage plus the arrears over a 60 month period for a Chapter 13 case, the mortgage company can move to remove the stay of foreclosure. You need to talk directly with a bankruptcy lawyer to know what your options are at this time.
    Answer Applies to: Alabama
    Replied: 3/7/2013
    Gonzalez & Tybor PA | David Tybor
    In Florida, foreclosure means many things. When you are behind in payments the bank can serve you with papers and start a foreclosure action to eventually sell your house. However, the process usually takes several months if not longer, and in the meantime you may be able to get a loan modification, or loss mitigation.
    Answer Applies to: Florida
    Replied: 3/6/2013
    Steele, George, Schofield & Ramos, LLP
    Steele, George, Schofield & Ramos, LLP | Alan E. Ramos
    Filing a Chapter 7 in your situation will halt a foreclosure, but only temporarily. At some point you will need to pay the arrearage or you will lose the house. A Chapter 13 would allow you to pay the arrearage over time; however, you need to be able to afford the payment as well as the other additional costs that may be included. You should see an attorney in your area to discuss your options.
    Answer Applies to: California
    Replied: 3/6/2013
    Law Office of Susan G. Taylor
    Law Office of Susan G. Taylor | Susan G. Taylor
    A chapter 7 bankruptcy will temporarily delay a foreclosure but will not cure the problem. It will just give you a few months to remain in your home, try to sell it, or try to work something out with the lender.
    Answer Applies to: Texas
    Replied: 3/6/2013
    Guardian Law Group PLLC
    Guardian Law Group PLLC | C. David Hester
    It may. It will put an automatic stay on collection but lender may file motion to lift the automatic stay. Have you tried working with a firm to negotiate a loan modification?
    Answer Applies to: Utah
    Replied: 3/6/2013
    Troutman & Napier
    Troutman & Napier | Gregory A. Napier
    You really need to consider a Chapter 13 for saving your home unless you could suddenly come up with the arrears amount. In a Chapter 13, you have 5 years to bring the arrears current rather than immediately in a Chapter 7.
    Answer Applies to: Kentucky
    Replied: 3/6/2013
    Charles Schneider, P.C.
    Charles Schneider, P.C. | Charles J. Schneider
    Ultimately No as it does not force a repayment plan upon the Mortgagee to catch up the missed mortgage payments.
    Answer Applies to: Michigan
    Replied: 3/6/2013
    The Smalley Law Firm, LLC | Cary Smalley
    Chapter 7 cannot save your home from foreclosure, but Chapter 13 can.
    Answer Applies to: Kansas
    Replied: 3/6/2013
    Attorney at Law | David Holbrook
    Chapter 7 would stop a foreclosure for 60-90 days.
    Answer Applies to: Georgia
    Replied: 3/6/2013
    J. Norman Stark, Attorney & Reg. Architect | J. NORMAN STARK, ATTORNEY
    No, bankruptcy will only relieve you of the obligation on the note and mortgage. If you file your Petition in Bankruptcy, the lender (bank) can request the Court to lift the stay in bankruptcy and proceed even more aggressively with foreclosure against you. I recommend you withhold filing for bankruptcy, but immediately contact and retain experienced Legal Counsel to assist you with mortgage mediation and modification of your loan under the many Federal laws which now favor homeowners. That way, you can remain in your home throughout the lengthy process of mediation, etc. and save up your normal loan payments for a rainy day. Contact an Attorney to learn of the many other defenses and options that are available, legally, to save your home. Bankruptcy is the last resort.
    Answer Applies to: Ohio
    Replied: 3/6/2013
    214bankruptcy.com
    214bankruptcy.com | Rustin Polk
    Chapter 7 bankruptcy can disrupt the sale for a little while but is not likely to help you keep the home long term. Chapter 13 bankruptcy can disrupt the sale and provide a way to get your loan caught up slowly over time instead of you having to pay all the past-due balance in one lump sum.
    Answer Applies to: Texas
    Replied: 3/6/2013
    Richards & Godfrey, P.C. | Ted Godfrey
    No, the filing will only postpone the foreclosure.
    Answer Applies to: Utah
    Replied: 3/6/2013
    Law Offices of Joseph A. Mannis
    Law Offices of Joseph A. Mannis | Todd Mannis
    You can certainly delay the foreclosure. As far as actually saving it, that depends on other factors such as what is owed on it, whether there is a first AND second mortgage and of course your income and expenses.
    Answer Applies to: California
    Replied: 3/6/2013
    Weber & Phillips, P.A.
    Weber & Phillips, P.A. | John G. Phillips
    A Chapter 7 would likely delay a foreclosure but would not ultimately prevent it unless an agreement could be reached with the mortgage company after filing. Most people file Chapter 13 in order to halt a foreclosure and give themselves time to cure the deficiency.
    Answer Applies to: Arkansas
    Replied: 3/6/2013
    Eliza Ghanooni, Attorney at Law
    Eliza Ghanooni, Attorney at Law | Eliza Ghanooni
    When you file bankruptcy, the automatic stay stops all proceedings by creditors, including foreclosure proceedings. If you are able to catch up on your home over 3 to 5 years, then you need to file a chapter 13. If you just want to buy a few extra months, then you need to file a chapter 7. Consulting a bankruptcy expert is highly recommended.
    Answer Applies to: California
    Replied: 3/6/2013
    Ross Smith, Attorney at Law
    Ross Smith, Attorney at Law | Charles Ross Smith III
    Yes, a Chapter 7 will stop the foreclosure. But, if you really need time to catch up on your mortgage payments, you may need a Chapter 13 Bankruptcy. Chapter 13 Plans work very well in these situations. Find an attorney that advertises for both Chapter 7 and 13s.
    Answer Applies to: Ohio
    Replied: 3/6/2013
    Law Office of Stuart M. Nachbar, P.C.
    Law Office of Stuart M. Nachbar, P.C. | Stuart M. Nachbar
    Yes it would temporarily stop the foreclosure process.
    Answer Applies to: New Jersey
    Replied: 3/6/2013
    The Law Office of Darren Aronow, PC
    The Law Office of Darren Aronow, PC | Darren Aronow
    It would stop you from getting served yet, but it does not help you in the long run without proper legal guidance. I would not suggest filing a chapter 7 until you review all of your options such as the various modifications available and a chapter 13.
    Answer Applies to: New York
    Replied: 3/6/2013
    Debt Relief Law Center | Roger J. Bus
    Chapter 7 will not save the house from foreclosure as it does not catch up arrearages. Contact the StepForward program with the State of Michigan in that regard. However, if you file a Chapter 13 bill repayment plan before any Sheriffs sale date, then you can catch up your house payments through the confirmed Plan and Stay any foreclosure actions.
    Answer Applies to: Michigan
    Replied: 3/6/2013
    A Fresh Start
    A Fresh Start | Dorothy G Bunce
    Filing a Chapter 7 will temporarily stop a foreclosure, but the length of time the foreclosure stops is limited. The foreclosure could resume again in as little at 40 days. If you are in a position to resume making your mortgage payments & simply need additional time to catch up on your delinquent payments, a Chapter 13 bankruptcy could provide you with this opportunity. Nothing beats an in personal consultation with an experienced bankruptcy attorney for specific advice to solve your legal problem.
    Answer Applies to: Nevada
    Replied: 3/6/2013
    Deborah F Bowinski, Attorney & Counselor at Law | Debby Bowinski
    A chapter 7 filing would stop a foreclosure proceeding if filed in time, but it would only be a temporary interruption unless you were able to cure your delinquency in full and very quickly. A chapter 13 bankruptcy would allow you more time to try to cure your mortgage arrearage. You should consult with a bankruptcy attorney to review your options as quickly as possible.
    Answer Applies to: Colorado
    Replied: 3/6/2013
    The Schreiber Law Firm
    The Schreiber Law Firm | Jeffrey D. Schreiber
    For the approximate 4 months of the bankruptcy only. However, if the lender files a motion for relief from stay which is granted, it can be even less time. I would also strongly caution over the use of a bankruptcy just for the purpose of delaying a foreclosure.
    Answer Applies to: California
    Replied: 3/6/2013
    The Law Offices of Deborah Ann Stencel | Deborah A. Stencel
    If you wish to save your home from foreclosure through bankruptcy, you will need to file a Chapter 13 which propose to re-pay the mortgage arrears over a period of three to five years.
    Answer Applies to: Wisconsin
    Replied: 3/6/2013
    Law Office of Michael Johnson
    Law Office of Michael Johnson | Michael Johnson
    Only a chapter 13 can attempt to save your home a 7 will only delay the foreclosure
    Answer Applies to: Florida
    Replied: 3/6/2013
    Goldsmith & Guymon
    Goldsmith & Guymon | Marjorie Guymon
    It would stop the foreclosure for a period of time, but without curing the arrears the foreclosure would resume. Your better option is a Chapter 13.
    Answer Applies to: Nevada
    Replied: 3/6/2013
    Law Office of Erik Severino | Erik Severino
    Technically, yes, a Chapter 7 bankruptcy can stop a foreclosure, but it may not afford you the right to save your home. Once a bankruptcy is filed, it prevents all creditors from pursuing any further collection actions against you. But, the Chapter 7 does not afford you an absolute guarantee that you can save your home, you probably need to file a Chapter 13 bankruptcy instead to give you a better chance of saving the property.
    Answer Applies to: Nevada
    Replied: 3/6/2013
    Law Office of Lynnmarie A. Johnson
    Law Office of Lynnmarie A. Johnson | Lynnmarie Johnson
    No, it will temporarily stop it but they will go to Court and get the automatic stay lifted and then go ahead with the Foreclosure. It is a Ch 13 that allows you to catch up on your back mortgage payments over a period of time ranging from 36-60 months, but your income must be high enough to pay the mortgage payment, the amount necessary to catch up and the trustees fees (which range from 5-8%).
    Answer Applies to: Michigan
    Replied: 3/6/2013
    Stittleburg Law Office
    Stittleburg Law Office | Bernd Stittleburg
    The filing of a bankruptcy will stop the foreclosure procedure.
    Answer Applies to: Georgia
    Replied: 3/6/2013
    Reger Rizzo & Darnall LLP | Kathleen DeLacy
    Not if you are in arrears. YOu must be current on your mortgage to be able to keep the house in a Chapter 7.
    Answer Applies to: Delaware
    Replied: 3/6/2013
    Moffa & Bonacquisti, P.A.
    Moffa & Bonacquisti, P.A. | John A. Moffa
    It absolutely could, but there are conditions and Chapter 7 may not help you as much as another Chapter.
    Answer Applies to: Florida
    Replied: 3/6/2013
    Danville Law Group | Scott Jordan
    A Chapter 7 bankruptcy will stop a foreclosure sale, temporarily. Are you able to make the monthly mortgage payments but have chosen not to? If you can afford it and want to keep the house, a Chapter 13 bankruptcy might be in your best interest.
    Answer Applies to: California
    Replied: 3/6/2013
    Law Office of D.L. Drain, P.A.
    Law Office of D.L. Drain, P.A. | Diane L. Drain
    Probably not a chapter 7, but perhaps a chapter 13. Please understand that filing for bankruptcy is a very complicated process. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step.
    Answer Applies to: Arizona
    Replied: 3/6/2013
    Law Offices of A. J. Mitchell, LLC
    Law Offices of A. J. Mitchell, LLC | A. J. Mitchell
    In order to save your home, you will have to file a Chapter 13. If you are not interested in keeping the home, then you can surrender it and discharge the debt by filing a Chapter 7.
    Answer Applies to: Georgia
    Replied: 3/6/2013
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