Although we are seeing news about economic recovery and rising home sales, foreclosure is still a major issue in today’s environment. Banks are continuing to move forward with foreclosures and scheduling them at their own pace. Planning your life around a foreclosure sale involves learning what to expect from the foreclosure process. If you are dealing with a foreclosure, you may find it necessary to know know how much time is required to stop a foreclosure sale or trustee sale.
As long as the bankruptcy is filed before the trustee sale is scheduled to take place, the bankruptcy should stop the sale of the home. Under bankruptcy protection, you are provided with an automatic stay which will not allow the foreclosure sale to take place. If the foreclosure trustee is notified in time, the sale can be stopped. To make sure we have enough time to notify the foreclosure trustee of the bankruptcy filing, we would suggest filing the bankruptcy the day before the foreclosure sale date although, technically, you could file the bankruptcy one minute before the sale, you can avoid additional challenges if the foreclosure trustee is notified of your bankruptcy filing well before the actual trustee sale time. If the foreclosure trustee does not receive a bankruptcy notice of filing in time to stop the sale, a sale could possibly be executed even though your bankruptcy has been filed and you are under bankruptcy protection. In this situation, the sale is required by law to be voided.
To review, a foreclosure sale cannot be executed while you are under bankruptcy protection. You can file a bankruptcy any time before a foreclosure sale or trustee sale in order to place yourself under bankruptcy protection to prevent your home from being sold. Bankruptcy Law Pros has extensive experience in working with people who have real estate issues. We help people with foreclosure issues on a daily basis. You can be confident that we will let you know exactly what you can expect when you work with Bankruptcy Law Pros.
Whether you are looking for an attorney in Riverside or an attorney in Orange County to help you deal with a foreclosure issue, contact Bankruptcy Law Pros at 855 257-7671 to talk about your options by phone or to set an appointment.