Can Bankruptcy Stop Foreclosure????

[azfeathers]

What is the name of your state? AZ

Mother Foreclosing because of greed!!!Assessors office said taxes paid by us.4 months later get letter, demand for taxes paid by my Mother ,her 1st attempt to get our home, she closed the acct. I was transferring payments to for the past 2 years, mailed payments ,claims did not receive 2,sent 3rd certified. We decided to refi and get out from her. Our lender contacted her for mortgage verification, she refused but then gave a clean VOM. Knowing we were in the process of getting a loan, going to Docs, she started foreclosure proceedings for 2 nonpayments and taxes. Lender informed her that she would have her money in about a week if she lifted the foreclosure, she refused. Our lender asked why she would do this to her own daughter, she replied, she wanted to teach me a lesson. Lender was unable to get loan but found investor to buy note, she contacted my Mother with this proposal and told her money could be sent in a couple days. Mother called me, said selling note .I told her, best for everyone. She was to call lender the next day and let her know she would sell the note, she did not call !!! I called her to find out why ,she said, changed her mind, I asked her to then stop the foreclosure so we could get the loan and pay her off in full, she refused and said if she did not stop the foreclosure she knew there was no way we could get a loan .What can we do, how do we save our home from her greedy underhanded doings...Can we claim Bankruptcy to save our Home...Please, We need Help!!!What is the name of your state?

 

[rosier2000]

Your post is confusing.

Did you pay all the payments? If you did, do you have receipts?

Why is she refusing payment? This doesn't make much sense.

Declaring BK would temp stall foreclosure, but all payments must be up to date to keep your house, unless you file a chapter 13.

 

[HomeGuru]

Your post is confusing.

Did you pay all the payments? If you did, do you have receipts?

Why is she refusing payment? This doesn't make much sense.

Declaring BK would temp stall foreclosure, but all payments must be up to date to keep your house, unless you file a chapter 13.

**A: I do not agree with the unless part.

 

[rosier2000]

Sorry, my mistake. I thought you could roll some missed payments into a 13.

 

[Ladynred]

You can. Mortgage arrearages CAN be included in a Ch 13 plan and frequently are. You wind up paying 2 amounts, really, some portion goes to the arrearage while you must keep up your REGULAR mortgage payments.

Bankrutpcy will most certainly stop her in her tracks temporarily. Once the automatic stay goes into place, she would have to file a motion for relief from stay in order to continue with the forclosure and you CAN object to that motion should she file one.

The problem then becomes getting financing while you're in bankruptcy.

 

[GaAtty]

Your post is very hard to understand. It sounds like your mother is a second mortgage holder, since you refer to a "lender" that does not seem to be the same as your mother. Regardless, in answer to your question, yes, you can do a bankruptcy to save your home. That is why most people do a bankruptcy, to stop foreclosure. Most people have to do a Chapter 13, if they have a home which has more than minimal equity. However, it is complicated and you need to immediately see a bankruptcy attorney who needs to look at your entire financial situation. However, before you file, under the new rules, you must go to consumer credit counseling first and get a certificate that says you went.