Which bankruptsy stops forclosure & for how long?

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Which bankruptsy stops forclosure, 7 or 13? Also how long does this stop the forclosure for? Also does the 120 day forclosure process start after the bankruptsy or does it continue as if the bankruptsy didn't happen?
Thanks, Richey surprised [ Edited by richeyrich on Date 02/24/2003 ]

Comments(1)

  • KAZOR24th February, 2003

    Don't remember which Bky it is. I thought it was both, but the Bky would cancel the Fcl all together. The lender would be brought into the Bky and finances straightened out. That is the reason they file for bky. The property cannot be sold until 1) the Bky judge signs an Order approving a sale, or 2) the Bky is dismissed.

    Kazor

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