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Bankruptcy, foreclosures and living the life thereafter

by Rebecca Tonn

Published: August 7,2009

Time posted: 12:00 am

Tags: bankruptcy, Foreclosure

When homeowners are confronted with impending foreclosure, they often will file for bankruptcy. The act of filing for bankruptcy causes an “automatic stay,” which stops creditors from taking action, thus preventing a foreclosure, said Michael Sousa, assistant professor at Denver University’s Sturm College of Law. Sousa said that if homeowners have unsuccessfully tried other means to ameliorate ...





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