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Being capable of stopping the sale on your house when your
lender will not work with you can be trying at best,
virtually impossible at worst. But there are yet means to
keep your house even if you have a lender that refuses to
work with you.
There are alternatives for you to
stop foreclosure sale
on your home even when your lender refuses to work with you.
The first thing you should do is check to see if your state
has a right to cure in their laws and a right to redeem in
their laws. A right to cure gives you the option of coming
up with money to get your loan with your lender up to date.
Unfortunately, part of this is also paying them all of the
foreclosure fees that have come up. Each area works
differently but in my case, I had to get the county my
intent to cure paperwork a minimum of 15 calendar days prior
to the sale date for my home. It was a pretty easy process.
There was just some simple paperwork that I had to fill out
and then fax it to my county's public trustee. At this
point, your lender is required by law to get cure figures to
your county.
A right to redeem is essentially a way to get your house
back once it has already been sold. Do keep in mind that
this is not a means to stop the sale, it is a means to keep
your house. What you need to bear in mind is that you have
to get together the total amount of money that you owe your
lender in addition to all of the fees. This is not simply
making your loan up-to-date, it is paying the entire amount
that you owe your lender on that loan in total. The other
matter to remember is that not all states have a redemption
periods. Do not depend on this as an alternative. You need
to explore the foreclosure laws for your state so that you
are sure that you understand the rules.
You can also get others to fight for you to stop foreclosure
sale. There are two great resources that can help you figure
out what your options are. Almost every major metro area in
the US has HUD approved counselors. These are trained
professionals that can help you figure out what your options
are and can help you figure out how to work with your
lender. These counselors know and understand foreclosure.
They work with it all the time so they will know better than
you what your options are. Hiring an attorney who knows
foreclosure law in your state is also a great idea. They can
advocate for you with your lender and they know exactly what
your rights are when it comes to foreclosure. They know what
you can do if your lender is refusing to work with you.
You can yet stop the sale of your home even if your lender
refuses to work with you. You simply must know what your
alternatives are.
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