Legal Question in Real Estate Law in Oregon
Foreclosures & Bankruptcy
I am interested in purchasing a property in foreclosure at auction and I am told the owner has filed for bankruptcy. How does the bankruptcy affect the foreclosure proceedings; does this mean the property will no longer be sold at the scheduled auction date?
Asked on 8/14/03, 1:18 pm
1 Answer from Attorneys
Susan Burns
Law Office of Susan Ford Burns
Re: Foreclosures & Bankruptcy
When a debtor files for bankruptcy, all collection actions, including foreclosures are stopped. This means that the original foreclosure auction will not take place, although it is possible that some time later, if the situation is not resolved, that the property would be set for auction again.
Answered on 8/14/03, 1:21 pm
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
