Photo by [ik] @invadingkingdom on Unsplash. President Biden acted immediately to re-extend the previously extended federal foreclosure moratorium. It now goes through March 31, 2021. New Foreclosure Moratorium Extension through March 2021 On the day of President Biden’s January 20 inauguration, the White House stated that: he will ask the Department of Veterans Affairs, Department of Agriculture, and the Department … Read More
Every month you can put off foreclosure buys you crucial time to get money together to make your move to your next housing. Last week we went through a list of ways Chapter 7 buys you time when dealing with a home foreclosure. Included was that filing a Chapter 7 case “can give you time to surrender your … Read More
Timing your bankruptcy filing right can give you more time in your home before surrendering it to your lender.
When it’s smart to file a 3-to-5-year Chapter 13 case to prevent a home foreclosure and be able to keep it permanently, or to sell it later.
Do you really have to file a 3-to-5-year Chapter 13 case to stop a foreclosure of your home and then be able to keep it permanently?
Even if you don’t think you can stay in your home, Chapter 7 gives you more time to save money for your move, and may buy some leverage.
Filing bankruptcy can buy you a little time or a lot of time, enough time either to transition to a new home or to save your home.