Why Neither Bankruptcy nor Foreclosure...
People who are having problems making their mortgage payments and facing a financial crisis are often faced with a dilemma about what to give up. Sometimes, the idea of letting go of your home can be devastating , especially if you and your family have already invested a lot of money , time and effort into it. With so many memories you need to leave behind, it may seem difficult to face the future without looking back with some reservations. If you are facing foreclosure , you may be wondering if filing for bankruptcy can offer you reprieve from the consequences of a foreclosure or better yet, stop it . So does bankruptcy stop foreclosure and is it possible to use bankruptcy to avoid foreclosure? Bankruptcy vs. Foreclosure If you fail to make your mortgage payments , you may be in danger of foreclosure and lose your home . Foreclosure proceedings usually begin once the homeowner fails several times to pay the mortgage. If your finances have been hit this hard and...