Loan Modification

Please contact your lender and work out a affordable solution. Banks will do many creative things to prevent filing a foreclosure. You must be pro-active with them however, you dont want to lose the home and they dont want to take it. Once they file the lis pendins, notice of default, their options and yours change. From there it gets worse until the trustees sale, filing bankruptcy to delay or stop the sale most often only benefits an attorney and gives you a extra few weeks before the sale occurs anyway. I have worked with pre-foreclosures for over 20 years and can honestly tell you that the vast majority of attorneys that recommend filing bankruptcy to save the house should be disbarred for fraud. Only in the rarest of circumstances does one benefit from a bankruptcy while in foreclosure. You have a better chance of finding the winning lottery ticket at a landfill.

Until the lender has the stay lifted which most savy lenders do quite quickly.