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No. But, it may be in your favor to do both. Check with a lawyer.

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Q: Do you have to declare bankruptcy if you have a foreclosure?
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Do you have to declare bankruptcy if you default on your mortgage?

No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.


Will bankruptcy protect me from foreclosure by my mortgage company?

Yes, bankruptcy protect you from foreclosure by your mortgage company. You can read more at www.hirby.com/mortgage-lender-filing-for-bankruptcy


What bankruptcy can you file to keep your home if you are behind in payments?

If you are behind in your payments and you declare bankruptcy usually you can remain in your home and continue payments. However the lender will most likely begin foreclosure since you can't afford it and you are at higher risk.


How bad is it to do a foreclosure and a bankruptcy at the same time?

You technically should not be able to do both at the same time. The bankruptcy should stop the Foreclosure proceedings in its track.


Can you file bankruptcy on your house if already in foreclosure?

Filing for bankruptcy may enable you to recover your house from foreclosure. However the bankruptcy would entail dealing with your entire debt situation, not just the house.

Related questions

Do you have to declare bankruptcy if you default on your mortgage?

No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.


Can you work after you declare bankruptcy?

Yes, you are not required to be unemployed to declare bankruptcy.


Will bankruptcy protect me from foreclosure by my mortgage company?

Yes, bankruptcy protect you from foreclosure by your mortgage company. You can read more at www.hirby.com/mortgage-lender-filing-for-bankruptcy


Bankrupty or foreclosure which is best?

bankruptcy is better. If you have to decide foreclose or banko, put your house in bankruptcy. When you have a foreclosure, they can sue you for the balance


What bankruptcy can you file to keep your home if you are behind in payments?

If you are behind in your payments and you declare bankruptcy usually you can remain in your home and continue payments. However the lender will most likely begin foreclosure since you can't afford it and you are at higher risk.


How long will bankruptcy prevent a foreclosure?

Bankruptcy will prevent a foreclosure but you still have to reaffirm the loan and begin paying or the bank will repossess your house regardless of bankruptcy. Bankruptcy temporarily halts the process for up to a couple months.


Does a timeshare foreclosure hurt your credit after a bankruptcy has been discharged?

Any foreclosure or bankruptcy affects your credit. And for anywhere from 7 -10 years.


How bad is it to do a foreclosure and a bankruptcy at the same time?

You technically should not be able to do both at the same time. The bankruptcy should stop the Foreclosure proceedings in its track.


Can you file bankruptcy on your house if already in foreclosure?

Filing for bankruptcy may enable you to recover your house from foreclosure. However the bankruptcy would entail dealing with your entire debt situation, not just the house.


Does foreclosure necessarily require you to declare bankruptcy?

No, absolutely not. Two entirely different things. Your not understanding that, and apparently what these things are, strongly suggest you need indivdual expert assistance to help you financially.


Should one declare bankruptcy before foreclosure proceedings start?

Doesn't matter. Before or during can be easier for you though. Speak with an attorney about your specific situation. If you can not find an attorney, contact your local Bar association and they will refer you to one.


Did the US declare bankruptcy?

No