Posted on: 12th Jun, 2012 01:47 am
We're filing BK but won't be reaffirming our mortgage. We've received a foreclosure notice but I guess that should be stopped once we file BK. So, how soon can we expect the mortgage company to move forward with foreclosure after we're discharged?
Hi Ken!
Welcome to forums!
After you file bankruptcy, the foreclosure proceeding will get stopped. Once the bankruptcy filing is discharged, you can surrender the property to the lender who will in turn start off with the foreclosure process. It might take some time to complete the process.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
After you file bankruptcy, the foreclosure proceeding will get stopped. Once the bankruptcy filing is discharged, you can surrender the property to the lender who will in turn start off with the foreclosure process. It might take some time to complete the process.
Feel free to ask if you've further queries.
Sussane
Welcome Ken,
It might take around 90 days time to complete the whole process provided the lender decides to sell off the property asap.
It might take around 90 days time to complete the whole process provided the lender decides to sell off the property asap.