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.
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’ Private 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 foreclosure defense strategies, and find the solution that best suits you.
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. They are informing you on there intent to foreclosure, and its import to assess your situation with your ideal goal in mind. Keep in mind, Bankruptcy isn’t for everyone and it wont always save your home. In more cases than not, it’s 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?
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 and chapter 7 bankruptcy.
Both types of bankruptcy are better filed before a foreclosure sale has been scheduled. If you are still in default, it 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 continuing 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 it is less of a means to an end. The result, the order of relief that gets filed by the courts as a response has a higher chance of of being sustained. Chapter 13 bankruptcies have 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 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 a foreclosure sale and give you the opportunity to find fraud within your loan to sue your mortgage lender in court for damages.
Need to stop a foreclosure sale? Private Membership has its Perks!
If you need to stop a foreclosure sale fast, or you need to stop an eviction filing bankruptcy could be an effective foreclosure defense strategy to use. Fraud Stoppers has a proven way to help you save time and money filing bankruptcy. Eliminate or restructure your mortgage loan payments and save your house from foreclosure. Save time and money and file Pro se or file with the help of a professional bankruptcy attorney. Our EXCLUSIVE 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. Get all this and more by joining Fraud Stoppers Private Members Association for just $97.
If you are in foreclosure or you have lost your home to foreclosure and you want to sue for mortgage fraud or foreclosure fraud, FRAUD STOPPERS PMA can help you save time and money, and increase your odds of success, with a court ready Quiet Title or Wrongful Foreclosure lawsuit package. If you have received a Notice of Default (NOD) or a Foreclosure Notice (Foreclosure Complaint) and you want to know how to respond to the Notice of Default (NOD) or a Foreclosure Notice (Foreclosure Complaint) call FRAUD STOPPERS PMA today because our prove system can help you fight to save your home from foreclosure fraud and/or mortgage fraud. Our court ready Quiet Title Lawsuit Package or Wrongful Foreclosure Lawsuit Packages includes a turnkey complaint (petition for damages), Bloomberg Securitization Audit, Expert Witness Affidavit, Application for Temporary Restraining Order (to stop a foreclosure sale or stop an eviction), Lis Pendens (to cloud the marketability of the title to the real property), and Pro Se education material that can show you how to win a Quiet Title Lawsuit or win a Wrongful Foreclosure Lawsuit. This entire court ready Quiet Title Lawsuit Package or Wrongful Foreclosure Lawsuit Package can help you save thousands of dollars in legal fees and help you increase your odds of success. For payment options or more information on this court ready Quiet Title Lawsuit Package or Wrongful Foreclosure Lawsuit Package please contact FRAUD STOPPERS PMA today at 844.372.8378 or open a case file for a Free Mortgage Fraud Analysis and Bloomberg Securitization Search to see if your current mortgage loan situation qualifies for a Quiet Title or Wrongful Foreclosure lawsuit here: https://www.fraudstoppers.org/free-mortgage-fraud-analysis/
For information on foreclosure defense call us at 844-372-8378. We offer litigation support, admissible evidence, expert witness testimony, education, training, and support in all 50 states to attorneys and pro se homeowners.
Feel free to connect with us . . .
Address: 332 S Michigan Avenue Suite 1032 #F513 Chicago IL 60604-4434 Phone: 844-372-8378
Legal Information Is Not Legal Advice: This site provides “information” about the law and is only designed to help users safely cope with their own legal needs. But legal information is not the same as legal advice — the application of law to an individual’s specific circumstances. THIS SITE IS NOT INTENDED TO BE MISCONSTRUED AS LEGAL ADVICE. Fraud Stoppers is NOT a law firm, non-profit organization, or government agency. Register for your Free Mortgage Fraud Analysis and Securitization Search, and get Free Foreclosure Defense Help and Free Foreclosure Defense Documents that you can use to stop a foreclosure and save your house.