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A Bankruptcy may not stop the sale.

April 06, 2007

Did you know that a Bankruptcy may not postpone the Foreclosure? Your Mortgage Company can petition the court to remove the automatic stay and allow the foreclosure to continue. This is what is happening to this prospective client.

"Chpt. 13 . Lender is attempting to dismiss Chpt. 13 after offering a Loan Mod. option. We tried to sell house but no avail. Trying to decide what to do. It is a investment property and we considering deed in lieu of foreclosure."

Bankruptcy is not always the best answer to solving your mortgage issues and should only be used in certain cases and as a last resort. The best solution is to get the Mortgage Company to agree to some kind of workout prior to filing bankruptcy. We can help with that and are willing to give you all of the free advice you want to help you resolve this yourself.

This entry was:
Posted By Darin at 10:39 AM
Comments (4) | Categories: Countrywide, Bankruptcy, District of Columbia Foreclosure | Tags: bankrupctcy countrywide financial district of columbia
 

Comments

Hi, we filed chapter 7 bankruptcy, in the process the Trustee found out our Mortgage was no recorded, he got the Mortgage listed as a non-secured loan and is now listed in our bankruptcy. He now wants us to make a deal with the Mortgage co for a lesser mortgage! Does the trustee have the power to sell our house?
Posted By Maureen on June 26, 2007 at 12:14 PM
This questions deals with the details of the Bankruptcy. Any actual Bankruptcy questions concerning your bankruptcy will have to be forwarded to your attorney.
Posted By Darin on June 26, 2007 at 12:40 PM
I filed chpt. 13 and got behind on house payment I am catching up only 1 payment behind and got papers today from attorney they want to dismiss bankruptcy stay. what can I do to keep this house.
Posted By Brenda Mitchell on July 12, 2007 at 07:17 PM
We have done a loan modification with countrywide already made a couple payments, but we are paying more now than before and cant afford it next month. What else can I do???
Posted By Jeremy on December 04, 2007 at 10:11 PM

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