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Will bankruptcy stop foreclosure?
Generally, bankruptcy will stop foreclosure. A home is an asset usually secured by a mortgage. New laws may prevent a bankruptcy from stopping a foreclosure if you have filed for bankruptcy before. If you have filed a prior bankruptcy case within a certain amount of time, the automatic stay which generally stops foreclosure, may terminate within 30 days of the current bankruptcy filing, or not go into effect at all, unless a motion is filed within 30 days of the current bankruptcy filing. This is a very complex area of the law which bankrupty attorneys at Phan, Nguyen and Associates LLP with offices in Oakland, CA and San Jose, CA can assist with.