How Long Can I Live In My House After Foreclosure ?

Foreclosure is a long drawn process. The mortgage company usually initiates a foreclosure process if the borrower has been defaulting on the payments. The lender has a minimum notice period to comply before filing for a foreclosure. The court demands that the lender gives a minimum of 60 days notice period to the borrower, and also confirm that they have tried enough number of times to contact about the impending foreclosure.

Can Bankruptcy Stop Foreclosure ?

After the recent recession it has become common thing to come across bankruptcy and foreclosure cases. There are two types of bankruptcy cases that have been filed and are common. They are Chapter 7 and Chapter 13. Several people, who have lost their jobs and could not afford to keep up their payments, have filed for bankruptcy. However, the courts are concerned that many people who need not file are also filing for bankruptcy for various reasons.