Will bankruptcy stop a foreclosure? - Posted by Bob

import · October 23, 2003, 8:08pm

Posted by William Bronchick on October 23, 2003 at 21:26:41:

A bankruptcy filing will delay a foreclosure, not prevent one. If he files, you must make a motion to to bankruptcy court for “relief from stay” to proceed. It should only delay you a few months.

import · October 23, 2003, 8:08pm

Posted by Bob on October 23, 2003 at 20:08:38:

Dear List,

I’m considering loaning money to someone to purchase an investment house. The loan will be 65% of the house’s appraised value, and the borrower will not be living in the house (he intends to fix it up and resell it).

Question: In the unlikely event the borrower declares bankruptcy, will I still be able to foreclose on the house?

Thanks.

Bob