If only I was to file chapter 7 now, would that stall our foreclosure and for how long? 24 Answers as of July 23, 2014

My husband and I are both on our home loan.

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Barnhart Law Office
Barnhart Law Office | Bruce C Barnhart
A chapter 7 filing will stay the foreclosure of real estate. However, the mortgage company may file a Motion for Relief from Stay, requesting permission to continue the foreclosure. Relief from the stay could be entered as early as 22 days from the bankruptcy filing. The mortgage company would then need to reschedule the sale. A chapter 13 filing would stay the foreclosure sale for a longer time. Giving you time to either: cure the default, sell the home, or move.
Answer Applies to: Nebraska
Replied: 7/23/2014
Rhymer Law Firm
Rhymer Law Firm | William Rhymer
In Georgia, if your name is on the land title and you filed a Chapter 7 before the sale and notified the mortgage company attorneys of the bankruptcy, it would stop the foreclosure for at least 60 days and probably more, depending on the mortgage company. The Chapter 7 would only delay the foreclosure, not permanently stop it.
Answer Applies to: Georgia
Replied: 7/21/2014
EDWARD P RUSSELL | EDWARD P RUSSELL
A Ch 7 would not help you much as the case is open only about 3 months.? If you owe arrears on your mortgage you should file a Ch 13.? That will stop a foreclosure and give you time, 3-5 years, to pay the arrears.? It should work fine as long as you will be able pay the future mortgage payments as they become due.
Answer Applies to: Minnesota
Replied: 7/16/2014
Arany & Associates
Arany & Associates | Lawrence C. Arany
Yes, even if your husband doesn't file, your BK filing will stall the foreclosure. A guestimate of the length of the stall due to the BK filing, assuming nothing else is done by yourselves to stall the foreclosure, is an additional 90 days. Could be longer, depending on how quick on the draw the bank is in getting the stay lifted. Good luck!
Answer Applies to: Indiana
Replied: 7/16/2014
Stephens Gourley & Bywater | David A. Stephens
It would stall it. How long it stalls the foreclosure depends on how aggressive the mortgage company is. Usually you can get at least 60 days. The minimum is about 30 days.
Answer Applies to: Nevada
Replied: 7/16/2014
    GARCIA & GONZALES, P.C.
    GARCIA & GONZALES, P.C. | Richard N. Gonzales
    It would delay the foreclosure approximately 45 to 120 days, depending on what action the mortgage company takes (if any).
    Answer Applies to: Colorado
    Replied: 7/16/2014
    A Fresh Start
    A Fresh Start | Dorothy G Bunce
    As long as the foreclosure has not been completed, filing chapter 7 bankruptcy can delay the foreclosure. In some instances, the delay will only be 6 - 8 weeks, but in other instances, the delay could be several years. A variety of factors can affect the length of time bankruptcy delays a foreclosure.
    Answer Applies to: Nevada
    Replied: 7/16/2014
    Deborah F Bowinski, Attorney & Counselor at Law | Debby Bowinski
    You should really consult with a lawyer in your area. Foreclosure laws vary from state to state, and the answer to your question will depend upon the specific status of the foreclosure action and the timelines involved. For example, in Colorado if a bankruptcy case is filed before the final publication has taken place the process must begin again from the start once the bankruptcy is closed or once the lender obtains relief from the automatic stay. However if publication has been completed, the foreclosure can go through immediately upon either of the above events.
    Answer Applies to: Colorado
    Replied: 7/16/2014
    Novakov & Associates, PLLC
    Novakov & Associates, PLLC | LINDA S. NOVAKOV
    Yes, the automatic stay goes into effect immediately upon filing. The stay prevents creditors from pursuing the debtor in any fashion. There is no true timeline, the Lender has the ability to request that the Automatic Stay be lifted as to them so that they may continue their foreclosure.
    Answer Applies to: Kentucky
    Replied: 7/15/2014
    Danville Law Group | Scott Jordan
    Yes, if you filed a Chapter 7 bankruptcy now, the foreclosure would be stopped for up to 3 months.
    Answer Applies to: California
    Replied: 7/15/2014
    Law Office of Peter M. Lively
    Law Office of Peter M. Lively | Peter M. Lively
    Yes. Property of the estate includes all legal and equitable interest of the debtor and community property too. The automatic stay covers all estate property.
    Answer Applies to: California
    Replied: 7/15/2014
    Janet A. Lawson Bankruptcy Attorney
    Janet A. Lawson Bankruptcy Attorney | Janet Lawson
    Yes, only one has to file. How long it stalls it depends on how aggressive the creditor is in proceeding with getting relief from the automatic stay. That motion can be calendered in less than 30 day.
    Answer Applies to: California
    Replied: 7/15/2014
    LAW OFFICE OF RALPH L. WILLIAMS
    LAW OFFICE OF RALPH L. WILLIAMS | RALPH L. WILLIAMS
    The filing of a Chapter 7 Bankruptcy will immediately stop the foreclosure sale if a foreclosure sale date has been set. The lender may file a Relief from Stay Motion during the bankruptcy procedure to go forward with the sale. The Court will normally grant the Relief from Stay Motion where there is no equity and the Lender has properly recorded the necessary documents to show ownership. The lender also may elect not to file the Relief from Stay Motion and wait to the bankruptcy discharge has been entered which is about three months from the filing date and the real property has been abandoned by the Trustee.
    Answer Applies to: California
    Replied: 7/15/2014
    Law Offices of Linda Rose Fessler | Linda Fessler
    About a month or two.
    Answer Applies to: California
    Replied: 7/15/2014
    Idaho Bankruptcy Law | Paul Ross
    The Ch 7 might delay a foreclosure from six months up to longer. It depends on how far along you are in the foreclosure process and whether or not you are interested in keeping your home. Visit with an attorney.
    Answer Applies to: Idaho
    Replied: 7/15/2014
    Law Office of William Stoddard | William Stoddard
    With sadness I have to report that you both have to join a filing if you are married. A filing will stop the foreclosure until the company gets a release of stay? That will take about four to six weeks. But the filing sometimes wakes up the lender who does not know how serious your situation is. Most lenders do not want the property back. There is too many sitting idle places now.? They might work out a deal for you to see if you can recover. Also you can stay in the house so long as you want as they would rather have it being maintained and secure than empty. A filing opens many avenues, but only if it also reorganizes your situation.? DO NOT file a Chapter 7 if the only debt you have is the home. Rule of thumb on a filing - have enough debt, say 30 to 50 percent of your normal earnings to file a Chapter 7. And you have to be below the median income for a family of two (or if you have children, add them.) One person who earns over $42 K a year cannot file for Chapter 7.
    Answer Applies to: Washington
    Replied: 7/15/2014
    214bankruptcy.com
    214bankruptcy.com | Rustin Polk
    Yes, it would stall the foreclosure for a short while. There is no set length of time it would work for, but probably 60-90 days is a good estimate. Be warned however that if you do it the way you are proposing (instead of doing it the right way) that you will be putting all your assets at risk. Maybe you have stuff that a chapter 7 trustee can take, and maybe you don't. But it's critical to know that ahead of time because the decision to file a chapter 7 (as opposed to a chapter 13) is basically irreversible. Sit down with a local bankruptcy attorney and walk through all of the options together beforehand and you can avoid some really nasty pitfalls.
    Answer Applies to: Texas
    Replied: 7/15/2014
    Law Office of Melissa Botting | Melissa Botting
    In a chapter 7, you would agree to pay the house off immediately or surrender it. This approach would not to a foreclosure.
    Answer Applies to: Texas
    Replied: 7/15/2014
    The Law Office of Darren Aronow, PC
    The Law Office of Darren Aronow, PC | Darren Aronow
    You can file chapter 7 for one of you, which should stop it for 3 to 9 months, depending on the aggressiveness of the bank attorney, and when they resume, your spouse can file to delay it even longer.
    Answer Applies to: New York
    Replied: 7/15/2014
    The Law Office of M Grater LLC
    The Law Office of M Grater LLC | Mark O. Grater
    The filing of the bankruptcy would stay the foreclosure until such time as the mortgage creditor made a motion for relief from stay in the bankruptcy court. If they acted expeditiously after the filing they could probably get relief within a month.
    Answer Applies to: Connecticut
    Replied: 7/15/2014
    Moore Taylor Law Firm, P.A.
    Moore Taylor Law Firm, P.A. | Jane Downey
    It's a bandaid, maybe a month.
    Answer Applies to: South Carolina
    Replied: 7/15/2014
    Law Office of J. Thomas Black, P.C.
    Law Office of J. Thomas Black, P.C. | J. Thomas Black
    Filing a chapter 7 bankruptcy for the sole purpose of stalling a foreclosure is likely an improper use of chapter 7. But if you have other debt problems, you qualify for chapter 7, and/or you are concerned about the possibility of there being a deficiency judgment, one or both of you could file chapter 7, timely notify the mortgage company's attorneys, and the foreclosure would be stayed at least temporarily. In order to get permission to post the property for foreclosure again soon, the mortgage company would have to file a Motion for Relief from Stay, which would likely take a month to get the stay lifted, at least if they do not seek emergency relief, which would be unusual. Then they have to re-post the property again, for the first Tuesday of a month, so it could take another month. That being said, we have had clients file chapter 7 and stop a foreclosure, and then go all the way through a chapter 7 case (typically 3-4 months) without losing their house. If you can get on your feet during that time, you can apply for a Loan Modification or after the chapter 7, file a chapter 13 case just to cure the mortgage arrears, again if you qualify. I recommend that you consult an experienced bankruptcy attorney in your area for help.
    Answer Applies to: Texas
    Replied: 7/15/2014
    Garner Law Office
    Garner Law Office | Daniel Garner
    The foreclosure rules differ by state, but under federal bankruptcy law, your filing would stay the foreclosure until the lender obtains relief from the bankruptcy stay. If they file a motion for relief from stay, it could be granted by the court in as little as 24 days if you don't oppose the motion.
    Answer Applies to: Oregon
    Replied: 7/15/2014
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