Bankruptcy and foreclosure on home

December 14th, 2009 by Questions

I own my own home and have zero equity in it. I am in the pre-foreclosure process with the banks lawyer. I was told by the lawyer that it could take several months before they ask me to leave. I am planning on going bankrupt in the meantime. Once I go bankrupt, do I immediately have to leave my home or do I still wait for the normal foreclosure process to go through with the lawyers?

Posted from: British Columbia


One Response to “Bankruptcy and foreclosure on home”

, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

As long as the foreclosure process has started and you are not making any payments in relation to the property it really won’t make much difference whether you are staying there or not. The key thing is the default on the mortgage must be able to be traced back to prior to the day you filed for bankruptcy.

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