Legal Question in Bankruptcy in Florida

Re: Bancruptcy or foreclosure?

I would recommend letting it go into foreclosure. Next, file an Answer in the mortgage foreclosure lawsuit denying everything to buy you more time in the house. Then, record your homestead exemption paperwork Official Records in your county and then file certified copies of them in the foreclosure to buy even further time in the house. After that, get a Summary Judgment file a Chapter 13 bankruptcy and a Notice of Suggestion of Bankruptcy in your foreclosure case. This automatically suspends your foreclosure lawsuit and you continue to get to stay in the house. All of this time your are not paying any mortgage payments. This could go on for months. Then, if you still can't afford to make the payments, convert the Chapter 13 bankruptcy to a Chapter 7 bankruptcy and seek to discharge all of your debt. Eventually, you will have to move out of the house, but you will not owe any debt for the mortgages or your credit cards. That is what I recommend. You are going to need a lawyer to pull this off, so I recommend contacting one immediately.