What should I do if my home is in foreclosure? 23 Answers as of June 26, 2013

My wife left over two years ago and is living with another man and just had his child, as a result of her walking out our home is now in foreclosure. What steps do I need to take?

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Breckenridge and Walton
Breckenridge and Walton | Alan D. Walton
Apparently you stopped making house payments. Bring the loan current and you will avoid foreclosure. You can use chapter 13 if you need time to do it, but you still have to make the monthly payments and then some to get caught up.
Answer Applies to: Michigan
Replied: 8/25/2011
Lehn Law, PA
Lehn Law, PA | Joseph W. Lehn
You may wish to live in the house until the foreclosure sale is pending and then move out. The filing of a bankruptcy petition will eliminate your obligation for any deficiency balance resulting from the foreclosure.
Answer Applies to: Florida
Replied: 8/24/2011
Financial Relief Law Center
Financial Relief Law Center | Mark Alonso
There may be a number of options available to you. One option is a to file a ch. 13 bankruptcy, which would allow you to take all of the past due mortgage arrearages and place them into a repayment plan over a 3-5 year period. This would require that you have a sufficient income in order to make payments into the ch. 13. While you are in a ch. 13 and making payments, the bank cannot foreclosure on your home and is required to comply with the 13. It's important to note that this option would not alter your mortgage payment at all. Instead it only helps you with the past due amount but does not provide any payment relief and does not change your mortgage terms. If your mortgage is no longer affordable to you due to the loss of income you are experiencing, and you still have some income to work with each month, then you may be able to qualify for a loan modification, maybe even one that is through the MHA or HAMP program (government loan modification programs). I would highly recommend that you contact us or someone who is very experienced in these areas and who can provide a free initial assessment of options to you upon reviewing your overall financial situation. It may be the case that some kind of combination of loan work out and bankruptcy may be the best way to go, but I would recommend contacting someone who has the experience and knowledge you need.
Answer Applies to: California
Replied: 8/22/2011
Heupel Law
Heupel Law | Kevin Heupel
Your situation depends on what you want to do with the home and whether you have a second mortgage. You can save the home by filing Chapter 13, or let it go to foreclosure and then file Chapter 7 to discharge any second mortgage.
Answer Applies to: Colorado
Replied: 8/22/2011
The Law Offices of Mark Wm. Hofgard, Esq.
The Law Offices of Mark Wm. Hofgard, Esq. | Mark Hofgard
You may be subject to liability for a deficiency. If the sale price of the home by the Public Trustee is not equal to or exceed all amounts due and owing, including attorneys fees and costs, AND you signed the promissory note and deed of trust, the foreclosing party may seek to collect from you personally. Contact an attorney immediately to determine alternatives to foreclosure and negotiate with the foreclosing party.
Answer Applies to: Colorado
Replied: 8/21/2011
    The Law Office of Mark J. Markus
    The Law Office of Mark J. Markus | Mark Markus
    Bankruptcy is an option you may want to consider if you expect there to be a deficiency after sale of the property that you could be liable for. I would check first with a real estate attorney and possibly a tax attorney to assess your potential liabilities first before deciding if you even need to contemplate bankruptcy.
    Answer Applies to: California
    Replied: 8/19/2011
    Dan Wilson Bankruptcy
    Dan Wilson Bankruptcy | Dan Wilson
    Need way more information. To stay in the house long run you have to be able to pay the mortgage. If you file a Chapter 13 bankruptcy you will be able to make up arrears over time, but you will have to catch up. If you cannot afford the mortgage you will eventually have to move. If you file a Chapter 7 you can buy some time, sometimes quite a bit of time, before you have to move. Chapter 7 will also discharge your home mortgage debt so you will not be liable for deficiency if your house sells for less than your debt.
    Answer Applies to: Colorado
    Replied: 8/19/2011
    Tucker Legal Clinic
    Tucker Legal Clinic | Samuel Tucker
    File for a divorce and a Chapter 13.
    Answer Applies to: Mississippi
    Replied: 6/26/2013
    Ashman Law Office
    Ashman Law Office | Glen Edward Ashman
    First of all, see a divorce lawyer. You are the legal father of that child. That is a huge problem that will be very difficult to resolve. That is your most serious problem. Second, see a bankruptcy lawyer as to options about foreclosure.
    Answer Applies to: Georgia
    Replied: 8/18/2011
    Charles Schneider, P.C.
    Charles Schneider, P.C. | Charles J. Schneider
    That depends on your goal. What steps do you need to take to do what? Keep the home? Then file a chapter 13 before the foreclosure sale.
    Answer Applies to: Michigan
    Replied: 8/18/2011
    Lewis Adams and Associates
    Lewis Adams and Associates | Lewis P. Adams
    If you want to keep the home and cannot bring it current, Chapter 13 allows you to stop the foreclosure, pay the delinquent payments over time not exceeding 60 months, if you are able to make the ongoing payments. If you do not want the house, a Chapter 7 can discharge any remaining balance left owing after the foreclosure.
    Answer Applies to: Utah
    Replied: 8/18/2011
    Ross Smith, Attorney at Law
    Ross Smith, Attorney at Law | Charles Ross Smith III
    You are going to need an experienced bankruptcy attorney to decide which cours is best. You could defend the foreclosure, move to moidify the mortgage, File a Chapter 13 to cure the arrearage, or file a chapter 7. You may even choose some combination of the above. FInd an attorney that does not charge for initial consultations. Good luck.
    Answer Applies to: Ohio
    Replied: 8/18/2011
    Goldsmith & Guymon
    Goldsmith & Guymon | Marjorie Guymon
    Do you want to keep the home? Can you afford it? You may qualify for mediation while in foreclosure to see if you can modify the loan. Or, you could submit a request to modify and stall the foreclosure sale. Or, you could file a bankruptcy and try to cure arrears through a Chapter 13 plan as long as you could afford to continue with payments going forward (or attempt a loan modification at that point). You have many options. I recommend discussing them with an attorney as they are detailed and too complicated to address over email.
    Answer Applies to: Nevada
    Replied: 8/18/2011
    Melinda Murphy Dionne, PC
    Melinda Murphy Dionne, PC | Melinda Murphy Dionne
    Can you afford to make the regular monthly payments on the house plus an amount necessary to cure any arrearage? If you can afford the payments, you could file a Chapter 13 case to save your home. If you can't afford the payments, you should strongly consider filing a Chapter 7 case before the foreclosure.
    Answer Applies to: Alabama
    Replied: 8/18/2011
    Judith A. Runyon, Esq. Attorney at Law
    Judith A. Runyon, Esq. Attorney at Law | Judith A. Runyon
    It depends on what you want to do with the house. Talk to a bankruptcy attorney
    Answer Applies to: California
    Replied: 8/18/2011
    Theodore N. Stapleton, PC
    Theodore N. Stapleton, PC | Theodore N. Stapleton
    You may qualify for a chapter 7 bankruptcy and can discharge any liability on the house.
    Answer Applies to: Georgia
    Replied: 8/18/2011
    Law Office of Michael Johnson
    Law Office of Michael Johnson | Michael Johnson
    You can file a bankruptcy to get rid of all debt.
    Answer Applies to: Florida
    Replied: 8/18/2011
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