Can I file for bankruptcy protection after the final judgment on foreclosure? 25 Answers as of June 23, 2013

Can you file for bankruptcy protection after final judgment on foreclosure?

Ask a Local Attorney. 100% Anonymous. Free Answers.

Free Case Evaluation by a Local Lawyer: Click here
Law Office Of Magnolia Zarraga
Law Office Of Magnolia Zarraga | Magnolia Zarraga
You can file for bankruptcy at anytime in the foreclosure process. A bankruptcy is designed to get rid of your debt, but a fringe benefit of a bankruptcy is that is temporarily stops a foreclosure sale. But if you file bankruptcy and the house has already sold, the bankruptcy might only give you a few more days/weeks in the house because technically the home is no longer yours thus the lender or new buyer will go to bankruptcy court and file for relief of stay to get the house. You need to consult with a bankruptcy attorney today so they can review your situation and give you your options. Good luck.
Answer Applies to: California
Replied: 9/20/2011
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
Yes you can.
Answer Applies to: California
Replied: 6/23/2013
D T Pham Associates, PLLC
D T Pham Associates, PLLC | Duncan T Pham
Yes, if you have a deficiency judgment against you in addition to other debts.
Answer Applies to: Texas
Replied: 9/19/2011
Diefer Law Group, P.C.
Diefer Law Group, P.C. | Abel Fernandez
You can file for bankruptcy to discharge the debt at any time. Clearly, if the property has been foreclosed filing a bankruptcy will not prevent the sale of the home. But if you owed money on the property you could file on it after the property was sold.
Answer Applies to: California
Replied: 9/19/2011
Bird & VanDyke, Inc.
Bird & VanDyke, Inc. | David VanDyke
Yes. However, you would only be discharging any debt liability for the home loan or loans. You probably can't get the home back.
Answer Applies to: California
Replied: 9/19/2011
    Bankruptcy Law Center
    Bankruptcy Law Center | Bill Zurinskas
    Filing Bankruptcy after foreclosure to discharge a mortgage debt is common, but first make sure you owe a balance on the mortgage. In Colorado, deficiency balances owed on first mortgages are allowed by law, but in most cases there is no deficiency balance. Balances owed on junior mortgages (2nd mortgage) are almost always owed after foreclosure unless the mortgage company forgives the debt. Bankruptcy will discharge deficiency balances owed on 1st mortgages, as well as junior mortgages.
    Answer Applies to: Colorado
    Replied: 9/19/2011
    AyerHoffman, LLP
    AyerHoffman, LLP | Melissa Hoffman
    Yes, you can file for bankruptcy after a final judgment on a foreclosure. The bankruptcy will discharge any deficiency that results from the sale of the property at auction.
    Answer Applies to: Massachusetts
    Replied: 9/19/2011
    Rhonda R. Werner Schultz, PL
    Rhonda R. Werner Schultz, PL | Rhonda R. Werner Schultz
    Yes. You may want to file bankruptcy to discharge any deficiency judgment if the bank did not release you in full (deficiency = the amount owed minus the value/sale price of the property at the foreclosure sale).
    Answer Applies to: Wisconsin
    Replied: 9/19/2011
    Dan Wilson Bankruptcy
    Dan Wilson Bankruptcy | Dan Wilson
    Yes, but your house is gone.
    Answer Applies to: Colorado
    Replied: 6/23/2013
    Law Offices of James Wingfield
    Law Offices of James Wingfield | James Wingfield
    You can file a bankruptcy at any time. If your goal is to stop a foreclosure from occurring, you can file it at any time *prior* to the foreclosure sale taking place. In Massachusetts the only judgment related to a foreclosure that you will see will be under the Servicemembers Civil Relief Act of 1940. The only issue that is under consideration in a suit under the Servicemembers Civil Relief Act is whether the homeowner (or any one of the homeowners) is entitled to relief under the Act (in other words, is any one of the owners of the house serving active duty in the military). If so, the foreclosure cannot go forward. If not, then the foreclosure can go forward and the house can be sold at an auction that will be scheduled shortly after the judgment enters.
    Answer Applies to: Massachusetts
    Replied: 9/19/2011
    Indianapolis Bankruptcy Law Office of Eric C. Lewis
    Indianapolis Bankruptcy Law Office of Eric C. Lewis | Eric Lewis
    Yes, it is common to file bankruptcy to avoid deficiency judgment liability.
    Answer Applies to: Indiana
    Replied: 9/19/2011
    Heupel Law
    Heupel Law | Kevin Heupel
    Yes, and it is recommended to file so that you can eliminate the debt and rebuild your credit.
    Answer Applies to: Colorado
    Replied: 9/19/2011
    The Law Offices of Mark Wm. Hofgard, Esq.
    The Law Offices of Mark Wm. Hofgard, Esq. | Mark Hofgard
    You can file for bankruptcy at any time for so long as you are eligible. For Chapt 7 filings, you must satisfy the means test. If you file after the Rule 120 Order Authorizing Sale but before the sale, the sale is automatically stayed (stopped) until the creditor files for lift of the stay, or discharge, or dismissal of the bankruptcy matter. If you file after the sale, the filing will only affect any deficiency you may have pursuant to the sale (i.e., the sale price was less than you owed).
    Answer Applies to: Colorado
    Replied: 9/19/2011
    Symmes Law Group, PLLC
    Symmes Law Group, PLLC | Richard James Symmes
    Yes you can.
    Answer Applies to: Washington
    Replied: 6/23/2013
    Grace Law Offices of John F Geraghty Jr.
    Grace Law Offices of John F Geraghty Jr. | John F. Geraghty, Jr.
    You can however it will not effect the foreclosure unless it is recent as 90 days.
    Answer Applies to: Georgia
    Replied: 9/19/2011
    Bankruptcy Law office of Bill Rubendall
    Bankruptcy Law office of Bill Rubendall | William M. Rubendall
    If there is a deficiency after a foreclosure you may want to consult an attorney about filing chapter 7 bankruptcy.
    Answer Applies to: California
    Replied: 9/19/2011
    Law Offices of Joseph A. Mannis
    Law Offices of Joseph A. Mannis | Todd Mannis
    Yes, but it will not undo the foreclosure if it already took place. It will discharge any indebtedness related to the mortgage (s).
    Answer Applies to: California
    Replied: 9/19/2011
    Carballo Law Offices
    Carballo Law Offices | Tony E. Carballo
    In California there is generally no foreclosure judgment necessary because foreclosures of mortgages (deeds of trust to be more precise) are non-judicial and the property is sold by an appointed "trustee" selected by the creditor. Homeowners' Associations may foreclosure judicially. You need to give more information and background, including what you mean by "protection". Bankruptcy will halt all further legal action but you cannot retain property subject to a lien unless you pay either the amount owed or the value of the property (in some cases).
    Answer Applies to: California
    Replied: 9/19/2011
    Law Office of Harry L Styron
    Law Office of Harry L Styron | Harry L Styron
    Foreclosures don't have "judgments." They have trustee deeds and redemption periods. There are many reasons why one would want to file bankruptcy after a foreclosure, the two biggest being if the note foreclosed on was not a "purchase money" note then the antideficiency provision of California law does not apply, and if the creditor realizes less on the resale of the property than was financed, the IRS may assert the difference as income (cancellation of debt income) and tax it. Both of these catastrophes can be avoided if a bankruptcy is filed.
    Answer Applies to: California
    Replied: 9/16/2011
    Ashman Law Office
    Ashman Law Office | Glen Edward Ashman
    Yes, and sometimes that will be a good idea (it does not get the house back).
    Answer Applies to: Georgia
    Replied: 9/16/2011
    Law Offices of Daniel Moulton
    Law Offices of Daniel Moulton | Daniel Moulton
    I will answwr the question the way I undersatnd it. You want to file a Chpater 13 to keep your property. If a judgment has been entered but the property has not been sold at a judicial sale, you can still save it. If the property has already been sold a a judicial sale, you cannot save it.
    Answer Applies to: Illinois
    Replied: 9/16/2011
    Cohen & Kendziorra, P.A.
    Cohen & Kendziorra, P.A. | Robert S. Cohen
    Yes you can file bankruptcy after the final judgment. If you want to stop the sale, then you would need to file before the foreclosure sale.
    Answer Applies to: Florida
    Replied: 9/16/2011
    Judith A. Runyon, Esq. Attorney at Law
    Judith A. Runyon, Esq. Attorney at Law | Judith A. Runyon
    Yes, but it won't affect the foreclosure.
    Answer Applies to: California
    Replied: 9/16/2011
Click to View More Answers:
12 3 4 5 Free Legal QuestionsConnect with a local attorney