Bankruptcy can also be a way to delay a foreclosure; however, it may not actually stop foreclosure. The foreclosure will be put on hold during the bankruptcy process.Once your bankruptcy is discharged the foreclosure process may resume right where it left off.
In some situations, bankruptcy may be the best solution for the homeowner. If you are considering filing for bankruptcy, please contact an attorney who is familiar with the foreclosure process. It may be possible to avoid foreclosure with a bankruptcy filing.