California Bankruptcy Lawyer Blog

A San Jose bankruptcy attorney has a Foreclosure and Bankruptcy Overview:

Purchasing a house can be an exciting and life-changing event. On the other spectrum, going into default and foreclosure can be just as scaring and depressing. The easiest and quickest way to stop foreclosure in San Jose is to file for bankruptcy. The automatic stay of bankruptcy will stop foreclosure for the time being. This will allow the individual some time to either find a new place to live, or come current on the arrears. Often times, when a person files bankruptcy to stop foreclosure and save their house, they file for a Chapter 13 bankruptcy.

A Chapter 13 bankruptcy will stop the foreclosure and generally allow a person to pay the arrears over a period of five (5) years so long as they are current on the mortgage payments following the filing of bankruptcy. This period of time following the filing of bankruptcy allows the individual to wrap up their financial affairs and look to the future without the stress of the looming foreclosure.

If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys.  After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you.  Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down,  stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs.  Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

A San Jose bankruptcy attorney address a foreclosure after bankruptcy question...

Question: Can Someone Foreclose After a Bankruptcy Petition is Filed?

Answer: Generally speaking once a bankruptcy petition is filed an automatic stay goes into effect that prevents foreclosure after bankruptcy. Foreclosure after bankruptcy, however, may still occur in certain situations. If a debtor has previously filed bankruptcy and the case was dismissed, the automatic stay is only in place for a limited amount of time. In addition, a lender may also file a motion for relief from stay asking the Court’s permission to proceed with foreclosure after bankruptcy. Thus an experienced bankruptcy attorney can provide guidance in preventing a foreclosure after bankruptcy.

If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys.  After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you.  Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down,  stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs.  Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

A San Jose bankruptcy attorney looks at the Short Sell of A House In Bankruptcy...

Whenever you have questions such as one with regard to short selling your home during a bankruptcy filing, it is best to speak to a qualified bankruptcy attorney.

In order to do what is known as a short sale with your home in bankruptcy, it is best to meet certain criteria. For example, you should be upside down on the loan and it's best done during a buyer's market. a short sale is the sale of a home or property by the owner/debtor who is in financial staits. The short sell the house for less than the outstanding mortgage balance due. The monies from the short sell are then used to repay the lender, if they are agreeable to the short sale. The debtor, or borrower, is then released from the mortgage obligation. The short sell of a house in bankruptcy is typically done as an alternative to foreclosure on the property.

If it is a burden to the trustee, it is likely that in Chapter 13 bankruptcy that a short sale of the home will go through. Although in order for the short sale of the house in bankruptcy to be approved, typically an application must be filled out properly, and submitted to the bankruptcy Court whereupon the decision is made by the judge with input from the trustee.

If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys.  After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you.  Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down,  stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs.  Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

A San Jose bankruptcy attorney explains how to stop foreclosure in San Jose and Fremont?

Debtors who wish to stop foreclosure proceedings in San Jose, Fremont or anywhere in the Bay Area can do so by filing bankruptcy. Once filed an automatic stay goes into effect preventing a lender from foreclosing on the property. Thus, filing bankruptcy will stop foreclosure proceedings.

Debtors, however, should understand that while filing bankruptcy will stop foreclosure proceedings, unless debtors can afford their home bankruptcy may not be a means to saving their home. Still, bankruptcy can provide a few extra months in a home rent free. These few months can be invaluable for debtors to find new living arrangements and get their financial affairs in order.

If you want to stop foreclosure proceedings contact a San Jose or Fremont bankruptcy attorney immediately...we are here to help!

If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys.  After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you.  Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down,  stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs.  Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.