Can I file for bankruptcy protection after the final judgment on foreclosure? - Bankruptcy Law Questions and Answers- LawQA.com

Free Answers to your Legal Questions by Lawyers.
ask »


Can I file for bankruptcy protection after the final judgment on foreclosure?

Can you file for bankruptcy protection after final judgment on foreclosure?

Law Office Of Magnolia Zarraga
Contact this Attorney Now

You can file for bankruptcy at anytime in the foreclosure process. A bankruptcy is designed to get rid of your debt, but a fringe benefit of a bankruptcy is that is temporarily stops a foreclosure sale. But if you file bankruptcy and the house has already sold, the bankruptcy might only give you a few more days/weeks in the house because technically the home is no longer yours thus the lender or new buyer will go to bankruptcy court and file for relief of stay to get the house. You need to consult with a bankruptcy attorney today so they can review your situation and give you your options. Good luck.

Answer Applies to: California
Replied: 9/20/2011

Answer By Janet Lawson
Janet A. Lawson Bankruptcy Attorney
Contact this Attorney Now

Yes you can.

Answer Applies to: California
Replied: 9/19/2011

Answer By Duncan T Pham
D T Pham Associates, PLLC
Contact this Attorney Now

Yes, if you have a deficiency judgment against you in addition to other debts.

Answer Applies to: Texas
Replied: 9/19/2011

Answer By Abel Fernandez
Diefer Law Group, P.C.
Contact this Attorney Now

You can file for bankruptcy to discharge the debt at any time. Clearly, if the property has been foreclosed filing a bankruptcy will not prevent the sale of the home. But if you owed money on the property you could file on it after the property was sold.

Answer Applies to: California
Replied: 9/19/2011

Answer By David VanDyke
Bird & VanDyke, Inc.
Contact this Attorney Now

Yes. However, you would only be discharging any debt liability for the home loan or loans. You probably can't get the home back.

Answer Applies to: California
Replied: 9/19/2011

Answer By Bill Zurinskas
Bankruptcy Law Center
Contact this Attorney Now

Filing Bankruptcy after foreclosure to discharge a mortgage debt is common, but first make sure you owe a balance on the mortgage. In Colorado, deficiency balances owed on first mortgages are allowed by law, but in most cases there is no deficiency balance. Balances owed on junior mortgages (2nd mortgage) are almost always owed after foreclosure unless the mortgage company forgives the debt. Bankruptcy will discharge deficiency balances owed on 1st mortgages, as well as junior mortgages.

Answer Applies to: Colorado
Replied: 9/19/2011

Answer By Melissa Hoffman
AyerHoffman, LLP
Contact this Attorney Now

Yes, you can file for bankruptcy after a final judgment on a foreclosure. The bankruptcy will discharge any deficiency that results from the sale of the property at auction.

Answer Applies to: Massachusetts
Replied: 9/19/2011

Rhonda R. Werner Schultz, PL
Contact this Attorney Now

Yes. You may want to file bankruptcy to discharge any deficiency judgment if the bank did not release you in full (deficiency = the amount owed minus the value/sale price of the property at the foreclosure sale).

Answer Applies to: Wisconsin
Replied: 9/19/2011

Answer By Dan Wilson
Dan Wilson Bankruptcy
Contact this Attorney Now

Yes, but your house is gone.

Answer Applies to: Colorado
Replied: 9/18/2011

Answer By James Wingfield
Law Offices of James Wingfield
Contact this Attorney Now

You can file a bankruptcy at any time. If your goal is to stop a foreclosure from occurring, you can file it at any time *prior* to the foreclosure sale taking place. In Massachusetts the only judgment related to a foreclosure that you will see will be under the Servicemembers Civil Relief Act of 1940. The only issue that is under consideration in a suit under the Servicemembers Civil Relief Act is whether the homeowner (or any one of the homeowners) is entitled to relief under the Act (in other words, is any one of the owners of the house serving active duty in the military). If so, the foreclosure cannot go forward. If not, then the foreclosure can go forward and the house can be sold at an auction that will be scheduled shortly after the judgment enters.

Answer Applies to: Massachusetts
Replied: 9/17/2011

© 2017 MH Sub I, LLC. All rights reserved.
Terms & Conditions | Privacy Policy | IB Cookie Policy