bank bankruptcy list 2009

When bankruptcy is filed how long before resolution?

I don’t now if its Chapter 7 or 13…anyway I have these horrible neighbors I would love to see move..I learned recently these people filed for bankruptcy back on April 29, 2009…would this stop the bank from foreclosing and going by the info I provided, how long before this situation comes to a head? I learned about my neighbor’s house listed on Realtor.com under foreclosures but this particular house was listed as bankruptcy.

Mortgage holders can surrender a home in bankruptcy (this is essentially the same as foreclosure) or they can reaffirm the mortgage and keep the house (in Ch 7) OR they can catch up on arrears and keep the house (in Ch 13).

You can’t know what they did unless you review their bankruptcy documents (which are public records – you can if you want … copies available for a fee from the Federal bankruptcy court in your District).

These days some mortgage lenders are receiving surrendered real estate from bankrupt debtors and NOT selling it (i.e., holding onto it, hoping for the real estate market to improve). So even if they surrendered the home, the bank may not put it on the market right away.

Make the Lenders shiver!

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