should I let lender foreclose or include in BK 7 ?

[ruttie]

I will be filing BK 7 by the end of March, my mortgage lender has not started foreclosure proceedings as of yet,(4 1/2 months late) would it be more benefitial for me to let them foreclose, which is a approx. 4 month process or do I have to include the forfieture of the house in BK 7?
The anti defiency laws in AZ. would protect me in bath cases, I am assuming, but if I could bide more time in the foreclosure I would rather take it.

[BKParalegal]

The bankruptcy does not stop the foreclosure it only slows it down but once you file they cannot ding your credit with a foreclosure.

If you want to max your time out in the house, then weight until the bank starts foreclosing and then file your BK. They will have to get relief from the BK or wait until discharge. Either way you will buy another few months or so, I don't know AZ foreclosure timelines but you get the point.

Good luck

[keepmine]

You are required to list all of your creditors in bk. No reason not to include them.