Last year, a Rhode Islander didn't meet the deadline to file bankruptcy before his home was sold by the foreclosing lender. A Bona Fide ("innocent") Purchaser bought the home at the trustee sale. Our Rhode Islander discovered the BFP hadn't recorded the deed in the interim between the sale and the bankruptcy. Yet, the Court ruled 8 mos. later that once the memo of sale had been signed, the debtor's right to cure had passed. My consumer bankruptcy newsletter (by LRP Publications) made the gavel analogy.

Time is of the essence. Once you're in continued default on your mortgage and you wish to try and keep the property, it's time to consult an attorney.