Will Filing For Bankruptcy Stop Foreclosure?
Will filing for bankruptcy stop foreclosure? The short answer, yes it will. In many cases, Filing an Emergency Bankruptcy is considered the first act in foreclosure defense. While being potentially cumbersome to a home owners lifestyle; chapter 13 or chapter 7 bankruptcy are not the only ways to avoid a foreclosure sale from happening in the case of a defaulted loan.
STOP A FORECLOSURE SALE AND SAVE YOUR HOUSE FROM FORECLOSURE WITH BANKRUPTCY
If you need to stop a foreclosure sale fast, or you need to stop an eviction filing for bankruptcy could be an effective foreclosure defense strategy to use. If you need to file a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, or a chapter 20 bankruptcy, FRAUD STOPPERS PMA has a proven way to help you save time and money doing it. Eliminate or restructure your mortgage loan payments and save your house from foreclosure with bankruptcy. Save time and money and file for bankruptcy Pro se or file for bankruptcy with the help of a professional bankruptcy attorney. Register for a FREE Mortgage Fraud Analysis and Bloomberg Securitization today and get FREE Bankruptcy Documents and insider information and court cases that reveal how to list your property as unsecured debt in your bankruptcy for free and clear title to your home.
Watch this video for information on how to get free bankruptcy documents and information about a little known bankruptcy secrete and controlling case law that you could use to get clear and free title to your home using the bankruptcy courts.
Bankruptcy Process in a Nutshell
First we are going to take a look into the bankruptcy Process.
Then, we are going to show you how FRAUD STOPPERS PMA members are filing there own bankruptcies for free without a lawyer, and only paying filing cost. Throughout this process many our private members quickly understand why bankruptcy may not be the best option stop foreclosure. If you feel like this may be you, have a look at the FRAUD STOPPERS PMA foreclosure defense strategies, and find the solution that best suits you, or register for a FREE mortgage fraud analysis and potential cause of action consultation to discuss all of your legal options to saving your home from foreclosure.
Bank issued Notice of Default
Once your Mortgage lender has taken the first step in legal foreclosure process, providing you with a notice of default and informing you on there intent to foreclosure, its import to assess your situation with your ideal goal in mind. Bankruptcy isn’t for everyone, and it wont always save your home. In more cases than not, bankruptcy is most effective when used as a piece of an overall foreclosure defense strategy, opposed to being the solution itself.
Which Type of Bankruptcy is right for me?
When keeping you end goal in mind, selecting the right type of bankruptcy is essential to it serving its purpose in your foreclosure defense. Choosing between the popular chapter 13 and chapter 7 bankruptcies; and the new hybrid chapter 20 bankruptcy can be a challenge. FRAUD STOPPERS PMA has a resource online highlighting the major differences between a chapter 13 bankruptcy and a chapter 7 bankruptcy.
Both types of bankruptcy are better filed before a foreclosure sale has been scheduled. If you are still in default, a bankruptcy can do either one of two things.
1. Give you time to work out an alternate means of settling with your bank or find new housing.
This is typically the case when filing for chapter 7, as it focuses on asses liquidation rather than consolidation. A chapter 7 bankruptcy does release ones obligation to a debt, but does not remove an liens a lender may have on the secured instrument (the house) itself.
2. Create a path towards repaying overdue payments while also continue to make payments on the participial and interest by means of consolidated payments. This is typically the process when filling a chapter 13 bankruptcy. This may sound like a trap, but unlike the chapter 7 bankruptcy it is less of a means to an end. The order of relief filed by the courts as a response to this bankruptcy has a higher chance of of being sustained, giving this type of bankruptcy a higher chance of putting a stop foreclosure while keeping the homeowner in the home for a longer period of time.
If you have made it to the end of this bankruptcy process overview and feel disappointed in your options, Don’t worry there are plenty of other resources out there for homeowners facing foreclosure, with favorable results.
By joining FRAUD STOPPERS PMA you get access to numerous legal documents and resources that can help homeowners, even those with little to no legal experience, began the fight to save their home from foreclosure. Learn how to file your own loan modifications, bankruptcies, and retraining orders than can temporarily stop your foreclosure sale and give you the opportunity to find fraud within your loan to sue your mortgage lender in court for damages.