How does bankruptcy stop a forclosure

[bigarmin88]

What is the name of your state (only U.S. law)? Fl

My dad owns a house in Florida thats in forclosure,if he files bankruptcy,will it stop the forclosure?Also he own a house in PA aswell but its up to date on payments and he never miss a payment on that house.So if he lose the florida house,can the bank still take his house in PA even its up to date on payments?Thanks

 

[bigun]

Is he filing a Chapter 7 or 13?

 

[bigarmin88]

Is he filing a Chapter 7 or 13?

No not yet,he not sure how it will effect by doing this.

 

[bigun]

He needs to speak with some bk lawyers because, depending on the Chapter he files foreclosure can play out a couple of different ways.
If he files a 13, he'll have to be able to make the regularly scheduled payments plus, pay the arreage back in the payment plan at 100% over 60 months. In this case, foreclosure is halted as long as he preforms according to the confirmed plan.
In a 7, all a lender need do is apply for relief from stay if the payments aren't current and it'll be granted and they may proceed with foreclosure. Or, if his Chapter 7 is discharged, they can proceed with the process and not even petiton the court.{assuming he's still in default}
BK is not the longtime answer for foreclosure.

If, he does nothing and the lender forecloses and sells the home in Fl. your father is liable for any deficiency balance and they may be able to place a lein on any property he owns.