Can you file bankruptcy on your home before foreclosure?
Question:
Answer:
get local legal or accounting advice.
This will effect the all of your life for years to come.
Don't depend on armchair opinions to get by.
If you are considering bankruptcy you should investigate all the alternatives before you file. Foreclosure may not mean bankruptcy: it depends on your situation and the attitude of your creditors.
The best advice I can give is to consult an attorney. An initial consultation is usually free and that should set you on the right path. Check out this website.
Good luck!
Bankruptcy can stop foreclosure, but it's usually considered by many homeowners as a last resort, rather than their first option. That's because foreclosure and bankruptcy are very damaging to your credit record, so it's better to avoid both, if at all possible.
You'll have to talk to an attorney in your state about when to file the bankruptcy, as there are different requirements in different states, although bankruptcy laws are mostly determined at the federal level.
Foreclosure laws are controlled by state law, though, so look up your state's laws to find out how much time you have to save your home. Then you'll have a better idea of when you should consider bankruptcy or any other option.
Good luck.
ForeclosureFish
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