Washington Foreclosed Homes
March 29th, 2008
Washington Foreclosed Homes
Question: Bankruptcy and Forcloser question......?
I filed for bankruptcy about a year ago but contiued to make payments on my home. Now I can no longer afford to make the payments on my morgage loans. I know that the home was part of the bankruptcy but as long as I stayed current on the payments I would be fine. So my question is...If I stop making the payments, how long do I have before they foreclose on my home? Can I just pack the things I want and move into a rental and let the morgage lenders deal with the house? I dont think they can come after me for the money because it was part of the bankruptcy. I live in Washington State and I know it usually takes 90 to 120 days to evict but I was wondering if it would be quicker because of the bankruptcy. Basically any info on my situation would be helpful and refinacing and/or continuing the payments is not an option. I need to foreclose. Please only knowledgable people on this subject answer. Thank you.
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Answer: Find an investor who can work a short sale with the lender. There's really no reason to leave the house just yet. Stay in it and save your money, for now. But be sure that it was included in the BR though. There is also a deed in lieu of foreclosure where you just quit claim the house over to the lender to save them the expense of foreclosure. Or, you can just walk away and ignore it. But talk to your BR attorney and look at your credit report before you decide. If your BR has been discharged, I can't see how you won't be on the hook for the mortgage. Good luck.
Foreclosure auction in Pierce County, Washington
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