We
can still help negotiate a short sale with your lender even if
you file for bankruptcy protection. However, in our experience,
bankruptcy is usually employed only as a last resort in a foreclosure
situation. Typically, filing for bankruptcy only temporarily delays
the foreclosure process (or in legal terminology, it provides
a “stay”). The property will be sold to satisfy debts
to creditors. We strongly suggest you to
seek the advice of a bankruptcy attorney if you are considering
this option.
