Bankruptcy may be a venue to explore if you are facing multiple credit issues including the loss of your primary residence through default on your loans. Here’s a quick take on Bankruptcy and how it relates to the foreclosure process. If you have further questions call the attorney at the end of this post:
Bankruptcy (Added in 2008): A distressed borrower can also seek protection under the United States Bankruptcy Code by initiating a proceeding in his local federal bankruptcy court. This will have the effect of imposing an “automatic bankruptcy stay” on all further proceedings by creditors and claimants against the borrower, save in bankruptcy court. Read the rest of this entry »
