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Does bankruptcy just prolong the foreclosure process? Meaning if you file bankruptcy on your house will it still foreclose?

We are looking into filing bankruptcy on our house because of reasons i wont get into. but some have said that you can file bankruptcy and they will still foreclose on it. but we dont want that because we have been told by several ppl that FC is worse than BR. We are working with a lawyer and i am going to ask him, i am just trying to find out before i can talk to him again. We are trying to make the best decision for our family, but dont want both showing on our credit. Does anyone know? Please dont bash me if you would know all the reasons why we are doing this you wouldnt and you would do it too. Thanks for you help!


Asked by Anonymous at 11:08 PM on Mar. 29, 2009 in Money & Work

This question is closed.
Answers (2)
  • No bashing here, same situation. We are filing, and leting our house go. A man from the mortgage company tried to tell me a bankruptcy WITH a foreclosure is worse, but it just isn't so. Bankruptcy is bankruptcy, with or without foreclosure.

    Answer by 3galsmomma at 11:10 PM on Mar. 29, 2009

  • Have you talked with anyone about a modification?

    Bankruptcy is as bad as it gets, and doesn't necessarily stop foreclosure. So you could find yourself without a home too.

    Answer by gdiamante at 12:36 AM on Mar. 30, 2009