By the time a sheriff sale has been scheduled, homeowners may be so far behind on the mortgage that there is little chance of establishing a workout solution with the bank, and their credit may have deteriorated to such levels that there is no chance of qualifying for a new loan. But not all hope is lost even at this late date, as homeowners can consider filing bankruptcy as a last resort to keep their home from being lost to foreclosure.
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[Source: Finance: Bankruptcy Personal Articles from EzineArticles.com - Posted by FreeAutoBlogger]
Using Bankruptcy In Self-Defense When Facing Mortgage Foreclosure
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