if you have a pending foreclosure and plan to file bk, do you lose the right to challenge the foreclosure or raise issues which would delay foreclosure if you file bk first and do not intend to keep the house? it seems like a moot point to try to delay foreclosure if you file bk with no intention of re affirming. if you have intentions of fighting foreclosure with legal issues shouldnt you hold off on the bk as long as possible?
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It depends on what those issues are...but generally speaking, you are correct; the BK, itself, acts as a temporary delay, and if your intention is to surrender the house anyway, why go to the time and effort to fight the foreclosure proceeding. -
i was thinking it would delay the foreclosure a little longer if you object to foreclosure for some reason ,which from what i have been reading here, and then file bk towards the end. where as if you file bk first then foreclosure judge would say you have absolutely no case since you are giving up the house in bk. in my case i was going to question the libor rate on the adjustable rate mortgage i was stupid enough to sign, also the mortgage was sold to another company, its a mobile and the serial # dont match title, i believe there was collusion on part of mortgage co and realtor, etc. a lot of issues i was wanting to raise. sadly i had a buyer and was in escrow, but they started foreclosure the day before the escrow agent called for payoff so now they want to tack on 2600 in lawyer fees to payoff, so i will probably back out of contract and let it foreclose as i think i will make more by saving rent and living rent free.Comment
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