Help with home foreclosure and bankruptcy?

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I am the middle child of a 3 siblings and possibly am the most concerned about us losing our home (sounds a bit overwhelming doesn't it?). After my parents divorced, we lost a lot of money towards the mortgage payments and the recession didn't help much either. my parents were both uneducated and work was hard to come by so we were lucky if we made $800 a month at the most. we lost the house but were living in it rent free for about 1 1/2 years until they could find someone to buy it. we searched for houses in the area (but unfortunately, they were all too expensive) and moving to another town was out of the option because my mom wanted to keep us in the schools we were in. I read on a couple of websites of options we could take to save our home (keep in mind that it is already foreclosed, but we haven't been evicted until it's bought). I read about Chapter 7, Chapter 13, filing for bankruptcy and a whole bunch of other steps we could take but I'm not sure which one we should do.

Could someone provide information on each one of the above listed (and any others you think might help save our home). And which one sounds like it could help our family in this situation the most?

THANKS SO MUCH FOR THE INFO AND THE HELP! I REALLY APPRECIATE IT!

I would visit diylegalinfo.com/bankruptcy_Links.html/ They have a lot of good information on bankruptcy questions.

loan-seeker.info/mortgage-loans/ has mortgage requirements, good lenders and mortgage rates, how to get approved for a mortgage, and all other laws and information.

You are going to have to move. That will be more difficult if your parents file for Bankruptcy before the move. You should try to move before you are served an eviction notice as that also makes it very hard to rent any housing.

Your parents need to contact a social services agency and see if there is any Sec. 8 help available. if not, you may need to seek a shelter until your parents can find something they can afford. Staying in that community may not be an option.

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