If you file a Chapter 7 while your home is in foreclosure but before the foreclosure sale, the foreclosure will be stalled for short period of time. The filing of a bankruptcy creates an injunction against your creditors from collection action. The foreclosure attorneys will have to ask the bankruptcy court for permission to proceed with the foreclosure sale while you are in bankruptcy. If the sale has already taken place, the Chapter 7 will only protect you from any deficiency balance on the mortgage or junior liens. Note that if you lived in the property it is unlikely there will be a deficiency balance on the first mortgage. You will need to check the complaint and judgment in the case to be sure. If the creditor asked for a 6 month redemption period and waived any deficiency, then you owe nothing on the first mortgage.

Answer Applies to: Wisconsin
Replied: 1/17/2012

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Bankruptcy will stop the foreclosure temporarily due to the automatic stay.

Answer Applies to: Washington
Replied: 1/13/2012

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Yes. The filing will stop the foreclosure process. If you surrender the property, the lender could ask the Court permission to proceed or it could simply wait until after the case is over to proceed with foreclosure.

Answer Applies to: North Carolina
Replied: 1/9/2012

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Filing bankruptcy creates an automatic stay. Foreclosures are stopped prior to being sold at auction. However, a lender can seek permission to continue the foreclosure by filing a motion. Chapter 13 is a plan to pay arrears and keep the property. Consult with an attorney to find out whether you qualify for chapter 13.

Answer Applies to: California
Replied: 1/6/2012

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Yes you are able to file for bankruptcy while your house is going through foreclosure. If the sale has not occurred yet it must cease once you file for bankruptcy. The creditor can only move forward after that once it gets permission from the court. This may give you extra time to remain in the home and get your affairs in order.

Answer Applies to: Michigan
Replied: 1/6/2012

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You can file while in foreclosure. It will have the effect of slowing down the foreclosure. You should see a lawyer about timing.

Answer Applies to: California
Replied: 1/6/2012

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When bankruptcy is filed an Automatic Stay descends that prevents creditors from taking actions to collect, set-off, or execute on a debt. All ongoing lawsuits, including foreclosures, are halted when the Automatic Stay goes into affect. The plaintiffs in those cases may seek to modify the Automatic Stay in bankruptcy and continue their action. In your case, if you file bankruptcy while your house is being foreclosed, the foreclosure process will stop for a period of time, and eventually resume.

Answer Applies to: Illinois
Replied: 1/6/2012

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The bankruptcy automatic stay stops the foreclosure proceeding unless the stay is lifted by the court.

Answer Applies to: Indiana
Replied: 1/6/2012

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If you have not gotten served for foreclosure, then it will take close to 2 years to foreclose (in NY). If you received notice of a sale date, then you can file for bankruptcy protection, which may stop the foreclosure sale for a few months.

Answer Applies to: New York
Replied: 1/6/2012

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Yes. Filing bankruptcy may substantially slow down the foreclosure process and allow you to remain in the home longer

Answer Applies to: Illinois
Replied: 1/6/2012

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If you file the bankruptcy case before the home is foreclosed, you will prevent the foreclosure from happening. If you wait until after the foreclosure sale takes place, though, the case law in the Middle District of Georgia indicates that you lose your ownership interest in the home at the time it is sold on the courthouse steps. The timing of the bankruptcy filing is really critical in these situations.

Answer Applies to: Georgia
Replied: 1/6/2012

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Yes, it is possible and often used to either stop the foreclosure or delay it for at least a month. In Georgia, Foreclosures take place on the first Tuesday of every month, so if your home is scheduled for a foreclosure in February, the sale date would be Tuesday, February 7th. If you file a Bankruptcy case by Monday, February 6th, you can at least delay the foreclosure possibly 2 months. Call a Bankruptcy Attorney to find out your options.

Answer Applies to: Georgia
Replied: 1/6/2012

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Yes, you can still file for bankruptcy while your home is in foreclosure or up for auction.

Answer Applies to: Kansas
Replied: 1/5/2012

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Well, you file, and you have bankruptcy which creates something called an automatic stay which effectively forestalls your foreclosure and stops all proceedings in civil court until the federal bankruptcy case is completed or until a motion for relief from stay is filed. You need a lawyer to properly strategize the proper timing and papers to file to maximize your options.

Answer Applies to: Connecticut
Replied: 1/5/2012

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Yes, you can file even if your home is in foreclosure. If you file before it is sold, then you will be able to delay the process of foreclosure and stay in the home longer. If the property is already foreclosed, you can still file the case but will not get much longer in the home.

Answer Applies to: California
Replied: 1/5/2012

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Actually, you have asked the question at the right time for you. As long as you file a bankruptcy before the auction, the auction will be called off. A chapter 13 bankruptcy allows you to get your mortgage arrears caught back up over a 3-5 year period of time. When you finish, your house will be caught back up and the rest of your debt will be discharged.

Answer Applies to: Virginia
Replied: 1/5/2012

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Within certain limitations, bankruptcy filings stay foreclosure. The bankruptcy filing must be done prior to the sale. Retain counsel sooner rather than later.

Answer Applies to: California
Replied: 1/5/2012

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It will delay the foreclosure action but it is possible to file. The question is if you want to keep the home or not.

Answer Applies to: Colorado
Replied: 1/5/2012

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Yes, it is possible to stop a foreclosure by filing for bankruptcy, but that will only delay the sale if you cannot afford to make the payments and make up the missed payments later.

Answer Applies to: California
Replied: 1/5/2012

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Filing a bankruptcy will automatically put a stop your foreclosure sale. Whether the delay of the sale is temporary or long term, will depend on which chapter you choose to file and if your lender gives you a loan modification.

Answer Applies to: California
Replied: 1/5/2012

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Yes, you can file while your house is in foreclosure. In fact, its a very good tactic. BK will delay the foreclosure sale, but don't delay, talk to a BK attorney soon. Timing is important.

Answer Applies to: Colorado
Replied: 1/5/2012

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As soon as you file for bankruptcy, an automatic stay goes into effect that stops all creditors from taking any action to collect on your debts. This includes postponement of scheduled foreclosure auctions. The moment the case is filed (which takes place electronically) this stay goes into effect.

Answer Applies to: Massachusetts
Replied: 1/5/2012

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If you file during the foreclosure, it will delay the process. If the house is set for sale, it will cancel the sale upon filing, but only temporarily unless you're able to work out another option before the sale is reset.

Answer Applies to: Florida
Replied: 1/5/2012

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A bankruptcy has to filed at least the day before the sale date.

Answer Applies to: California
Replied: 1/5/2012

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Filing a bankruptcy case stops the foreclosure. Also, you can save your house with a Chapter 13.

Answer Applies to: Mississippi
Replied: 1/5/2012

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Yes. All legal proceedings against you will be stayed - including the foreclosure. So you won't have to worry about that while you're in bankruptcy. Depending on which chapter you file and if you have enough income to save your home. If chapter 7, you might have to move out right after your bankruptcy case is concluded, or you might be able to stay for awhile, it all depends on how quickly your bank wants you out.

Answer Applies to: Florida
Replied: 1/5/2012

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Filing for bankruptcy may be a way for you to stop the foreclosure process. You should contact an attorney immediately to discuss your options.

Answer Applies to: Minnesota
Replied: 1/5/2012

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If you file bankruptcy when your home is in foreclosure, that foreclosure process will be stayed (stopped) for several weeks until the bank files a application for relief from the automatic stay to move foreward with the foreclosure action unless the debtor objects to the motion. However, normally there are few defenses to the foreclosure action and the court will lift the stay. This process often provides additional time for the debtor (homwowner) to make arrangments for relocation. In my experience, clients have remained in the home for 4-6 months where a sheriff sale was scheduled and stayed by filing bankruptcy.

Answer Applies to: New Jersey
Replied: 1/5/2012

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If you file for bankruptcy, it will stop the home foreclosure while you are proceeding through the bankruptcy process. Whether or not you keep the home will depend on how far upside down you are on your mortgage, who the mortgage company is, what chapter of bankruptcy you file, and your desire to keep the house. By way of bankruptcy laws, as soon as you file for bankruptcy and provide the bank foreclosing on the property notice of the filing, that bank must stop the foreclosure process. However, in Nevada, there are other ways stop a foreclosure.

Answer Applies to: Nevada
Replied: 1/5/2012

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Yes and the automatic stay can stop the foreclosure process.

Answer Applies to: Georgia
Replied: 1/5/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

Yes. The foreclosure process will be halted, at least temporarily, once the case is filed. Upon filing of a bankruptcy case, an automatic stay goes into effect whereby creditors cannot pursue collection actions. In the case of a foreclosure, the lender can file a motion for relief from the automatic stay and, once granted, the foreclosure process may continue.

Answer Applies to: Maryland
Replied: 1/5/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.