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FORECLOSURE
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How Bankruptcy Can Help With Foreclosure

If you are facing foreclosure and are unable to work out a deal or other alternative with your lender, bankruptcy may help. Chapter 7 bankruptcy can at least stall the foreclosure temporarily and allow you to save some money to move to a new home. Chapter 7 also can cancel the debt secured by your home and prevent tax liability for this cancellation. If things aren't as bad financially, you might be able to make payments, through Chapter 13 bankruptcy, to hold on to your home.

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How long do we have to sell our house before foreclosure?

We're a month late on our mortgage and my husband, who's self-employed, just had surgery and can't work for several months. We feel like our house is just more than we can afford -- we probably should never have bought it. We'd like to sell now rather than hanging on and risking foreclosure. How much time do we have in which to sell?

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If we’re foreclosed on, when do we actually have to leave our house?

We just got a Notice of Default from our bank and can’t afford to pay back what we owe. In fact, we’re so deep in debt that paying rent again is going to be hard. If we let them foreclose, how much longer will we be able to stay in our house?

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Foreclosure Survival Guide
Foreclosure Survival Guide: Keep Your House or Walk Away With Money In Your Pocket
Book / $16.99
eBook / $12.99

Busy Family's Guide to Money
Busy Family's Guide to Money
Book / $15.99
eBook / $11.99

The New Bankruptcy
The New Bankruptcy: Will It Work for You?
Book / $17.99
eBook / $13.99

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