Q: I am a full time student. I have a collection agency foreclosing on my house I see judge 2/14. I owe 20000 house worth
140000. USDA rhs was my lender. What can I do. Can I sell before 2/13? And pay the 20000?
A: You need to visit with a foreclosure defense/bankruptcy lawyer TODAY. From you question I cannot understand if your home mortgage is in foreclosure, or you are being sued on a student loan. In either case, run, do not walk to a good bankruptcy lawyer in your community.
A:
It looks to me that this is a foreclosure. If you can find a short-sale buyer before the mortgage foreclosure sale, and pay off the mortgage balance, the foreclosure plaintiff should be willing to dismiss the case.
If the student loan or the mortgage balance are your principal debts, bankruptcy would generally not be that helpful, other than to buy you some time. Instead, if you need more time for the short sale, judges are normally willing to order extended sale dates (~90 days, perhaps, instead of 45).
A: File a chapter 13 bankruptcy and put the 20000 into a repayment plan.
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