How long will bankruptcy stay off foreclosure? 4 Answers as of October 01, 2010

Our house is in foreclosure and we are currently filing for bankruptcy. We want to know when the short sale will take place.

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Law Office of Barbara Seeley Curtis
Law Office of Barbara Seeley Curtis | Barbara Curtis
No short sale will take place unless you set up one. The bankruptcy court will only stall a month or so, the bank will then proceed with the foreclosure. The court does not want your property.
Answer Applies to: Florida
Replied: 10/1/2010
Sussman & Associates
Sussman & Associates | Mitchell Sussman
This depends upon the holder of the mortgage and how aggressive they are.
Answer Applies to: California
Replied: 9/30/2010
The Law Office of Mark J. Markus
The Law Office of Mark J. Markus | Mark Markus
Filing bankruptcy will temporarily stop the foreclosure. How long depends on which chapter you file, what equity there is in the property, and a host of other factors. Chapter 13 enables you to catch up on past due payments so as long as you stay current, you should be able to stop the foreclosure altogether. Chapter 7 will likely only buy you a couple of months before the creditor gets permission to continue with foreclosure.
Answer Applies to: California
Replied: 9/30/2010
Diefer Law Group, P.C.
Diefer Law Group, P.C. | Abel Fernandez
About 3 or 4 months.
Answer Applies to: California
Replied: 9/30/2010
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