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Guru_Guy, Attorney
Category: Bankruptcy Law
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Experience:  Years of experience providing advice on bankruptcy and other alternatives to debt problems.
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will putting my house up for sale stop foreclorsure

Resolved Question:

will putting my house up for sale stop foreclorsure
Submitted: 9 years ago.
Category: Bankruptcy Law
Expert:  Guru_Guy replied 9 years ago.


Putting your house up for sale has no effect on foreclosure. It cannot prevent or delay foreclosure.

If you have already declared bankruptcy, you can stay any foreclosure for a few months, but then you must either reaffirm the debt and continue paying, or allow foreclosure to proceed.

If you can find a seller and sell the home for an amount equal to or greater than the mortgage debt, your lender should be fine with that. Your lender MIGHT be willing to allow you to perform a short sale (where the lender does not get all of its money back) if you have a ready buyer. But if you are just putting it on the market and don't have a buyer, and the house is already in foreclosure, a lender is highly unlikely to agree to any delay.

Sorry if this is not the answer you wanted, but I hope it helps you understand the situation.


Please keep in mind that information in this forum is for informational purposes only. It is not legal advice and does not constitute creation of an attorney client relationship. Before acting on any such information, you are always advised to consult with an attorney licensed to practice in your jurisdiction who can take the time to review all the facts and laws relevant to your situation.

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