Will BK by one person stop a foreclosure?

[highlife]

My wife and I have three mortgages on the house. The bank that has the third just started the forclosure process. I was planning on filing a BK myself, but now they have sued her on the foreclosure as well. Is there any way that if I file a CH13 or CH 7 alone, it will stop the foreclosre process? I really don't want to have her have to file BK as well. Please let me know, I'm scared to death.

[SMinGA]

Yes - but I'm not sure if it will hold them off permanently. They can file to lift the stay, and proceed. And if her name is on the debt - after you are discharged they could still possibly pursue her for the balance owed. Best to consult with an attorney and cover your specifics in detail. (Specifics with the atty, not here..)

[HHM]

My wife and I have three mortgages on the house. The bank that has the third just started the foreclosure process. I was planning on filing a BK myself, but now they have sued her on the foreclosure as well. Is there any way that if I file a CH13 or CH 7 alone, it will stop the foreclosure process? I really don't want to have her have to file BK as well. Please let me know, I'm scared to death.

Well, if your wife has been sued, significant damage has been done; not sure what possible reason you could have to not have her file BK with you; with the foreclosure starting, credit is trashed anyway.

Unless you plan on fixing the mortgage through a chapter 13; a BK will only delay the inevitable.