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 .

Real estate mkt is very bad so can’t get a buyer for a house owned by my deceased relative. Trying to avoid foreclosure on the decendent’s home.

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.

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

if I pay off my home by a sale before the Sherrif sale date for a public auction? I received a letter that gave me until Jan 2nd to pay off the mortgage or stop the foreclosure by a repayment plan or paying what I owe past due. If my house is sold before then and I pay it off, what will it reveal on my credit? A payoff? or a foreclosure?

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How can I avoid foreclosure?? Any suggestions??

i heard they send you a 1099 form for your taxes after a foreclosure is done, this means i would owe the IRS a lot of money. So would filling bankruptcy help me to not owe anything?

I going through a rough time financially, can I request the bank to lower my interest rate – to reduce my payment – to avoid foreclosure? What other options can the bank offer to avoid foreclosure? I can’t/don’t want to refinance since I do not have the money and don’t want to get into further debt?

I got a general idea about foreclosure…So tell me the ways to reduce the foreclosure…It will be useful for me too..

my sister has missed her house payment for a few months now because my brother in-law lost his job but she wants to save her house what should she do? or is there a company that can help? she needs to come up on $5,0000 with in 30 days