When should I file?

[walkawaykid]

I just missed my mortgage payment that was due about two weeks ago and already being harassed by company. I am in the process of stopping the usage of all credit cards as it is my understanding you have to have 90 days of no usage before you can file. My question is this: When should I actually file to prevent foreclosure? I have a 2nd mortgage too and I intend on bankrupting on everything including my home as it is deep underwater.

I obviously want to prevent foreclosure before it occurs. I am going to speak with attorney next week. I just want to get my timing right. I have not used my credit cards to their potential either...just $40 here and there or so.

[keepmine]

Filing bk won't prevent foreclosure.
All a lender need do is file a motion for relief from stay and once granted can proceed with foreclosure.
They still are required to follow state law dealing with default and foreclosure and it could take months before you're forced to leave.

[walkawaykid]

Filing bk won't prevent foreclosure.
All a lender need do is file a motion for relief from stay and once granted can proceed with foreclosure.
They still are required to follow state law dealing with default and foreclosure and it could take months before you're forced to leave.

I get what you are saying, but what I was wanting to know was when to file? I am going out on everything including the house... but I guess makes no difference if the foreclosure happens before I file, right? I just want the mortgage company to know that it is coming before they go through all their garbage. I have been told it could take several months before I am booted, just wanted to have bankruptcy before that happens.

[keepmine]

You should file at the point in time where it benefits you the most.
Your lender is bound by the laws in your state that regulate foreclosure. They can't take any shortcuts just because they know you're going to file bk.