Bankruptcy Law Questions? Ask a Bankruptcy Lawyer.
The bankruptcy won't go on your credit until the judgment is rendered -- which, on your facts will never happen. However, the foreclosure will only be temporarily delayed by the bankruptcy. And, if you yank the bankruptcy, then the lender will be free to foreclose immediately.
Basically, you will lose the house either way -- bankruptcy is only viable to get rid of the possible deficiency judgment(s), and to wipe out credit card and other personal unsecured debts.
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