I am trying to help a family memebr avoid bankruptcy and her situation is dire . She lives in an area where the real estate market has stalled out . Her primary residence has a huge payment plus two home equity loans . She has a smaller house that she had been renting out just to make payments . The tenants moved out with no notice . Each month she gets deeper into debt . If she were to sell either house she would still be upside down on the loans . She is at a point where she is not able to pay the larger loan . What will happen to the two equity loans if she goes into foreclosure ? Her credit is already pretty well destroyed .

I have bad credit with a foreclosure and bankruptcy. In the past my husband and I paid a company almost $1,500 to help us avoid foreclosure but they never accomplished anything. I would like to get some guidance on the best way to improve our credit.

If I file bankruptcy, will it stop the foreclosure? We have been trying to sell the house since Jan. We have sent in two short sale offers and both were denied. The house is now in the foreclosure status and I am afraid we are running out of time. Also, if I file bankruptcy, will it affect my ex if he is still on the deed? If so…can he file a quick claim to release his name from it? Will the bankruptcy completely stop the foreclosure…or will it continue with my ex? Is there even an option where I can let the house go, have a clean slate and continue to start over once I file bankruptcy. Will they still go after my ex or just take the house?

I filed bankruptcy last year to stop a foreclosure, Now a year later I find myself in default again They want to foreclose How can I stop it now

Will filing bankruptcy (7 or 13) stop foreclosure? Do they take the house?

My mom and my step dad have declared bankruptcy one or two times in the last 10 years. My older brother now lives with them because his health hasn’t been so great for some time. Needless to say their credit isn’t so good after filing for bankruptcys. Now I hear the bank has gone to foreclose their home and they say to us, their adult children that they have their lawyer working on it but don’t tell us much else. My parents havent made such great choices about their money in the past so we are pretty skeptical. Not only that a majior reason why they are in this finacial hell is because my step dad fell for an internet e-mail scam. I and my brother am trying to help them as much as we can with our own practical smarts but they haven’t told us any details so far. From what we gather my parents could be housless come Febuary. What can be done to help them legally and, or what would you do about all this?

We filed chapter 13 the day before the auction date of our home in NY and this did stop the sale. Filing chapter 13 was our only hope. Without a doubt, if our home could have been saved any other way, we would have done so. It’s a scary, nauseating situation to be in. Unfortunately, it’s not over. We still have hearings to appear at and it still has to be confirmed, and mortgage plus trustee payments must be received on time. We’ve had our home on the market since Sept. of ‘07 and are naturally praying for a buyer (as we know so are thousands of other people!).
We also pray for you and your family, we wish you strength and patience through all this. God Speed.
P.S. I’d just like to add that we’ve lived in our home for 14 years and came upon financial hardship due to an illness and loss of job.

A Lis Pendens has been filed on the house (NY). An investor ’s short sale proposal was rejected. The lender is taking forever to get back to me to set up a meeting where we can talk about DIL. It doesn’t look as if I can raise enough privately to avoid foreclosure although I am still working on this as an option.
I heard that Chapter 13 bankruptcy was a common way to delay the foreclosure sale. I will try for pro bono legal advice locally but just for preliminary considerations, anyone got any thoughts (keep it simple please) on which is worse? .

My partner and I decided to buy together a home two years ago. He is unable to meet his financial obligations, and is considering to declare himself in bankruptcy. I can continue paying for my share, but definitely cannot pay for his. Is there any way I can escape from this loan without having a bad credit history? Any tips in how to avoid foreclosure or bankruptcy?

Is it true that by filing a chapter 13 bankruptcy the process of a foreclosure will be stopped