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I received a foreclosure notice for back condo fees Is there anything you can do to slow this procdure if i wont have the for a couple months?
Wiki User
∙ 14y ago
It sounds like you are working with the association's board.
It is possible that you can negotiate with the board regarding the unpaid assessments, and sign a promissory note or other legal agreement that details a payment plan for the debt you owe.
Wiki User
∙ 14y ago
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How long will bankruptcy prevent a foreclosure?
Bankruptcy will prevent a foreclosure but you still have to reaffirm the loan and begin paying or the bank will repossess your house regardless of bankruptcy. Bankruptcy temporarily halts the process for up to a couple months.
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"Foreclosure can be simply explained as follows: Suppose that you, as a loan borrower, failed to make a couple of your payments in time, so you fall behind the payment schedule. In this case, depending on the terms and conditions of your mortgage loan agreement, the lender has the right to start a legal process called "foreclosure" which may result in the termination of your rights to own the mortgaged property."
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