How can my friend prevent foreclosure? 14 Answers as of July 28, 2015

My friend is facing foreclosure and I want to try to help her out. She has already filed for bankruptcy once. I believe that bankruptcy was filed in 2010. Can she file again or are there other ways to prevent foreclosure? The economy has been very rough on her and she had to take a pay cut. Her income is far less than it used to be and the bank has increased his payments.

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Cohen & Kendziorra, P.A.
Cohen & Kendziorra, P.A. | Robert S. Cohen
She should think about filing for Chapter 13 bankruptcy to stop the foreclosure and try to modify her mortgage.
Answer Applies to: Florida
Replied: 7/28/2015
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
She could file a chapter 13. She can't file another ch7. She needs 8 years for that. She should see a lawyer. You may find one at
Answer Applies to: California
Replied: 7/28/2015
Ronald K. Nims LLC | Ronald K. Nims
Many people can avoid foreclosure in bankruptcy and having filed a bankruptcy in 2010 won't prevent her from using bankruptcy to avoid foreclosure in 2015. But there are two questions that need to be answered first. 1. does it make sense to file bankruptcy, if your friend has a $250,000 loan on a $150,000 house, they can prevent the foreclosure but they'll be paying $100,000 (plus interest) more than the house is worth. That's usually a pretty bad idea. 2. Since her income has dropped can she still afford the house. If her house payment is $1,500 a month and her after tax take home pay is $3,000 a month. She simply can't afford that house, at least if she wants to eat and heat the house and drive a car and see the doctor etc. Stopping a foreclosure is only temporary if she'll just be digging a bigger hole for herself.
Answer Applies to: Ohio
Replied: 7/28/2015
Stacy Joel Safion, Esq.
Stacy Joel Safion, Esq. | Stacy Joel Safion
It sounds like she should try to get a loan modification or sell the house (short sale if there is no equity) or a regular sale if there is equity.
Answer Applies to: California
Replied: 7/28/2015
Richard B. Jacobson & Associates, LLC | Richard B. Jacobson
Not that it much matters, but you seem to be describing a transgendered person. If the prior BR was under Ch. 7, and s/he got a discharge, four years must pass between the date of filing the Chapter 7 and a subsequent Chapter 13. (For a second Ch. 7 you have to wait eight years.) In a Ch. 13, you can use a period of up to 60 months to catch up on any arrearage. But the creditor's claim for arrears is often a good deal higher than the debtor anticipates, and if your friend's income has fallen, s/he may not be able to make the payments required to pay a sufficient sum into the Plan each month, and also have enough to live on. Consult an experienced bankruptcy lawyer: it's almost always worth it.
Answer Applies to: Wisconsin
Replied: 7/28/2015
    The Law Office of Darren Aronow, PC
    The Law Office of Darren Aronow, PC | Darren Aronow
    She may have to fight it in state court since the bankruptcy option is off the table.
    Answer Applies to: New York
    Replied: 7/28/2015
    Law Office of Ranj Mohip, LLC
    Law Office of Ranj Mohip, LLC | Ranj Mohip
    If your friend wants to keep the house, bankruptcy will only delay the foreclosure and cost your friend money she doesn't have. A better option for her would be a mortgage modification or temporary forbearance.
    Answer Applies to: Illinois
    Replied: 7/28/2015
    A Fresh Start
    A Fresh Start | Dorothy G Bunce
    You are sort of putting the cart before the horse. Does your friend have the financial ability to make her mortgage payments now? Does she also have enough money to pay something towards the delinquent amounts she owes on the mortgage? Does she have other debt? Has she attempted other options, such as a loan modification? Why isn't she posting this question instead of you. You don't need to be giving your friends legal advice because it could subject you to a claim of unauthorized practice of law, a criminal offense. Drag your friend to a well respected local Chapter 13 attorney for a consult.
    Answer Applies to: Nevada
    Replied: 7/28/2015
    Law Offices of Joseph A. Mannis
    Law Offices of Joseph A. Mannis | Todd Mannis
    What Chapter did she file in 2010? That question has profound importance in answering your question. She might be able to file a Chapter 13, but that is a repayment plan. The plan might entail paying back very little as far as unsecured debt, but she will be required to make up the arrearage over the course of the Chapter 13 bankruptcy plan. That could be tough for her, given the circumstances you described.
    Answer Applies to: California
    Replied: 7/28/2015
    GARCIA & GONZALES, P.C. | Richard N. Gonzales
    Have her meet with an experienced BK lawyer. There may be a fee for the meeting, but she needs to learn what her options are. She can try calling the mortgage company or the attorneys handling the foreclosure to see if there is any sort of loan modification program that is available to her. She should meet with a BK lawyer as well so she knows what options she has in this regard. Time is of the essence, so she needs to act quickly!
    Answer Applies to: Colorado
    Replied: 7/28/2015
    Deborah F Bowinski, Attorney & Counselor at Law | Debby Bowinski
    Has your friend tried to see if a loan modification is an option for her? Can your friend afford her regular mortgage payments? A chapter 13 bankruptcy MIGHT help her save her home if she is able to make the new loan payments on time when they come due AND ALSO make a bankruptcy plan payment that would go toward catching up the missed mortgage payments over time. If the home is just not affordable then her options are limited. If there is equity in the property she could try to sell it before the foreclosure is completed.
    Answer Applies to: Colorado
    Replied: 7/28/2015
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