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In particular, filing for bankruptcy will cause an injunction to go into effect, known as an automatic stay. An automatic stay will stop foreclosure proceedings as long as bankruptcy remains in ...
Nearly 360,000 foreclosure filings were reported last year — up 10% from 2022. Kentucky woman chooses to file for bankruptcy to save home after husband's death froze mortgage payments Skip to ...
A deed in lieu of foreclosure is a deed instrument in which a mortgagor (i.e. the borrower) conveys all interest in a real property to the mortgagee (i.e. the lender) to satisfy a loan that is in default and avoid foreclosure proceedings. The deed in lieu of foreclosure offers several advantages to both the borrower and the lender.
Americans are increasingly filing for bankruptcy in order to avoid foreclosure. Katherine Porter, a bankruptcy expert at Harvard Law School, estimates that 75 percent of Chapter 13 filings fall ...
The scheme preys on desperate homeowners whose mortgages are in default by offering to prevent the foreclosure. [1] [2] There are various ways in which foreclosure rescue schemes work, causing different types of harm to the homeowners, but all ultimately with the likely end result of the owner being forced out of their home and losing even more ...
Chapter 7 of Title 11 U.S. Code is the bankruptcy code that governs the process of liquidation under the bankruptcy laws of the U.S. In contrast to bankruptcy under Chapter 11 and Chapter 13, which govern the process of reorganization of a debtor, Chapter 7 bankruptcy is the most common form of bankruptcy in the U.S. [1]