17.7 Bankruptcy
| Library | Real Estate Practice Deskbook (2019 Ed.) |
C. (§17.7) Bankruptcy
Although the subject of bankruptcy is beyond the scope of this chapter, counsel should remember that the filing of a petition in bankruptcy generally results in an automatic stay of any foreclosure proceeding at any stage. 11 U.S.C. § 362(a).
The Bankruptcy Code limits the applicability of the automatic stay for repeat filers. 11 U.S.C. § 362(c)(3). If the mortgagor/debtor is filing a second bankruptcy within 1 year of a previously dismissed case—other than a chapter 7 proceeding...
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