Legal Question in Real Estate Law in Virginia

Can I file Chapter 7 after the Lender has foreclosed and the Bank has bought the deed? Do I still have a chance to save/rent my house. I am still in it and want to stay in it . We are due in court Aug 20, 2009 under an unlawful detainer. We feel that we didn't get a fair modification because we had a FHA loan and the Lender told us they were not under the Home Affordable Program in April. My question is urgent I am going through foreclosure and am in financial need. I have a family of 7. three teens and a set of 2yr old twins. Please help.


Asked on 8/06/09, 7:18 pm

1 Answer from Attorneys
Daniel Press Chung & Press, P.C.

A bankruptcy filing will temporarily stop the eviction under such circumstances, but unless you have a valid legal basis to challenge the foreclosure itself, at this point you can't stop it long term with a bankruptcy filing (after the "hammer" falls at the auction, you no longer have any ownership interest in the house). If you can make a substantial payment, and if the lender bought it, it may be possible to get them to rescind the foreclosure sale, but that would be entirely voluntary on the part of the lender.

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Answered on 8/11/09, 11:06 pm


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