I am a Real Estate and Bankruptcy attorney, and the caveat hear is that im giving you my opinion and not legal advice. Most, if not all of the time, the filing of a consumer Chapter 7 Bankruptcy will halt the foreclosure proceedings for a specific period of time. However, what usually happens is that the lender will make a motion to lift the automatic stay (in non-legalese when you file for Bankruptcy all creditors are basically stopped from attempting to collect from you-with small exceptions). The bank will likely file a motion to lift this stay, basically stating (Hey, we want our money or we want to foreclose on the property). There arent many defenses here, as if you had the money to pay it off you wouldnt be filing for Bankruptcy in the first place. Furthermore, there are some quite serious considerations to filing for Bankruptcy regardless of the foreclosure (and many of those depend on your states laws). My suggestion is to IMMEDIATELY go see a few attorneys. Many of us don't charge an initial consultation fee and should be able to answer all of your questions. I don't mean to use hyperbole, but you're walking along a minefield right now and you need a few people to navigate your way out of this mess. Go speak to someone, make sure you trust them and feel good about them and go from there. Good luck to you.