I want to stop foreclosure on my home by using bk . Is it possible
Well, bankruptcy has a feature called automatic stay. Once you file bankruptcy, automatic stay is imposed on judgments, collection efforts, wage garnishment, foreclosure, etc. So bankruptcy can help to stop foreclosure as long as the house has not yet been sold. Chapter 7 can postpone the foreclosure. But if you want to keep your home, then file Chapter 13 bankruptcy.
Yes, it's possible! As soon as you file bankruptcy, an automatic stay comes into effect! Unless the judge gives the lender permission, no foreclosure can take place! But make sure to consult a good attorney while filing bankruptcy!
If any one got in insolvency then they stay on the judgment,collection efforts and foreclosure.So it will help to stop foreclosure as long as the Bailiffs comes and sell your house.So for keeping your house one need to file chapter 13.