Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - Should I file bankruptcy before the foreclosure or after? - When is a good time to file for Bankruptcy? before or after foreclosure?
I received a letter in the mail from an attorney. My lender wants to start the foreclosure proceedings. At the moment, I am 8 months behind on my mortgage. I want to dump the house as I owe 20% more than it is worth. What happens if I file for bankruptcy right away? Does that cover the foreclosure too?? Or would the bank come after me after it sells my condo for the difference?
I live in Illinois -
