Filing for bankruptcy places an automatic stay (a stop) on foreclosure proceedings. Under Chapter 7, however, after several weeks, the mortgagee (the bank) will likely apply for and be granted relief from the stay and be allowed to continue the foreclosure proceeding.
Chapter 13 provides a way to avoid foreclosure altogether by forcing the bank to allow you to pay the past due amount, over time, in addition to your current mortgage payments.
Contact Buffalo bankruptcy attorney Thomas Denny for more information on how bankruptcy can stop foreclosure.
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