Bankrupcy And Foreclosure
Going to a preforclosure this morning, one name on the deed is already filed. The 2nd name, is going to enter the process to do so. How long will this push back the foreclosure?
Eric
[addsig]
Going to a preforclosure this morning, one name on the deed is already filed. The 2nd name, is going to enter the process to do so. How long will this push back the foreclosure?
Eric
[addsig]
Depends on the Chapter they both use. Chapter 13 will get usually a 5 year plan to repay. A lot do not make it and eventually loose to foreclosure anyway. chapter 7 the trustee may be able to sell the property unless homestead then the owner has to deal with bank or cure the default. A lot of times too the owner will just file to buy time with the intent of never actually following thru with the sase and it will get tossed out in about 2 to 3 months.
Good LUCK and HAPPY HOLIDAYS
Hope this helps some
Ted Jr