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 .

The only way to stop it is to pay the back mortgage and taxes and bring it up to date, or sell the house for more than you owe. Otherwise it will happen.

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 have been trying to sell my house and I have a buyer but I have to hold off a foreclosure for about 30 days. I have asked the bank but they wont extend the time. can I start a bankrupcty to hold off the foreclosure

Specifically what options can a mortgage company have to get the court to hear a motion to force the hand of one party to sign papers to sell a house. There are two parties involved, but one is dragging their feet. There is no disagreement over the validity of the mortgage or that foreclosure is imminent. The stalling party continues to delay the proceedings by switching attorneys and then being granted a continuance. There is a buyer for the house, but needs the signature of both parties to continue. Given that the financial interest of the mortgage company is clear, can they file a AC brief?