Foreclosure trouble, please help?

Question:

I filled a chapter 7 in 2003, the bank screwed me over and I had to file a 13 on top of that 2 months later. Now I have had some financial problems and I am going to be foreclosed on. If they forclose on me and I'm a full time student without a job, what are they going to do?

if you know whats going to happen please let me know, guessing won't help me.

Answer:
When you filed chapter 7 you allowed to keep your house and your car, and probably and lot of the other stuff you had. I went through bankruptcy myself, so I know how it works. I'm surprised you were able to file for chapter 13 so soon afterwards.

Anyway, it was very important that you keep up on your mortgage payments and that they are on time. When my wife and I filed our bankruptcies, we got hit big time with fees from our mortgage company, because of legal fees even though they didn't even have an attorney involved.

I don't know if you can prevent being forclosed on. The best thing would be to contact the attorney that handled your bankruptcy and see if your mortgage company can do it and if they can, then your next best bet is to contact your mortage company to see if something can be worked out to avoid them forclosing on you.

Considering the value of the property, I'm sure they would rather get paid than foreclose on you, but they do need some reason that makes sence to them not to do so. After all, it's all a matter of dollars and cents to them, and if they have to cut their losses they will the best way they can.

The process will have to go through band ruptcy court now, the filing of chap 13 has extended your time a little, so get the property on the market immediately and try to sell it ASAP. If you can pay off the mortgage and come away some money, you can cancel the filing. Good luck

you need to contact your bankrupsy attorney. it sounds like they filed to keep your house, this will delay foreclosure until your bk ends. good luck.

Oh boy... What is really going to happen to you, without guessing? You'll be left with nothing. If you have no job, you better quit your studies and get one, unless your wife can afford to support you. If her name is included in the process because she is a co-owner, yes, she is also going to lose common assets.

However, it is only temporary. Give yourself 7-10 years to rise above this crisis. The best thing about hitting rock bottom is, that the only way to go now is up! Good luck

there are community help services available to help stop foreclosure, look at http://www.311foreclosure.com. Or you can refinance to lower your payments, many mortgage companies don't mind if you have credit problems.

Foreclosure trouble, please help?

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