Yes, a bankruptcy can delay a foreclosure, but how long is a different question. When a bankruptcy petition is filed, all ongoing litigation and collection activities must be stopped due to the automatic stay. A lender involved in a foreclosure must comply with this requirement as well. The automatic stay usually remains in effect for the length of the bankruptcy, which can be at least a couple months. However, if a lender that has started the foreclosure proceedings and does not believe the debtor will be attempting to keep the property, they can file a Motion to Lift the Automatic Stay, which would allow them to continue with the foreclosure proceedings. As a result, a bankruptcy may only delay a foreclosure a couple weeks or a month in some instances, while it can delay the process several months in other cases. Contact a bankruptcy attorney below for additional information.
http://www.westmontattorneys.com/Bankruptcy/
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