Here is another very important question:  My foreclosure sale date is in January, 2014.  What are my defenses to avoid my house from being sold? I am from Illinois. I have not been paying the mortgage for a couple of years now with Bank of America. The reason for that is that I lost my job so I defaulted. There was a settlement amount sent to me for $300.00 (estimate) wherein Bank of America was asked to pay a lot of people. I already file for Chapter 7 2 1/2 years ago.

My answer: Even though you filed Chapter 7 Bankruptcy 2 1/2 years ago, you still could file Chapter 13 to stop the sale. You have no time to present a defense to the foreclosure if your case has already proceeded to the sale 1/3/14. The foreclosure Judge has already awarded judgment to the lender, and the settlement has nothing to do with your defenses.

Call a bankruptcy lawyer right away to see if you would be a good candidate to save your house in a Chapter 13. You’ll need to have a source of income now, because, in order to save the house, you will need to pay your mortgage payments, plus an additional catch up payment in the Chapter 13 plan.

You do have some other options too. But it is crucial that you call an experienced bankruptcy lawyer now. Any Chapter 13 filing must be done before the sale date to stop the sale. I offer free first consultations.

As you can see, sometimes you might not know what to do.  Don’t wait too long!  If you do, you’ll have a very difficult situation!  All hope isn’t lost, but this person will have to act quickly to save his or her home!
Daniel J. Winter
BankruptcyLawChicago.com
djw@DWinterLaw.com
312-789-9999
Offices in Chicago, Gurnee, Oak Lawn, and Skokie, Illinois.