Well if you pay for the reinstatement, then I don't see where you'd have money for repairs, so you'd own a home that still needs work to be done in 60 days, correct? How would you be pulling that off?
There could be other legal issues as well, #1 you weren't on title when the foreclosure began but you are now, and #2 your father, who is on title, has filed BK.
Another option is to take the $23k, pay off your revolving & auto loan debt, and use the remaining ~$2k as a subsidy for a 1-bedroom apartment to bring the monthly payment more in line ($100/mo cheaper for 20 months)... is the difference in $500/mo for the studio & $900/mo in 1-bedroom apt/utilities, which is $400/mo, the same or less than you are paying on the revolving debt & car loan? If so, then making that move would lower your total monthly expenses.
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