Stop Mortgage Foreclosure

There are some critical things that you need to know about your foreclosure rights so that you can protect yourself and save your home. The laws in your state dictate many of these rights so becoming familiar with your state laws is critical. But the really important pieces are:

1. Knowing what the timeline is for foreclosure in your state. It starts with knowing when your mortgage company can begin foreclosure on your home. Can they start it after one missed payment or does it take a few months? Once the process is started, how soon is the foreclosure sale scheduled? After the sale, how long do you have to get out of the house? These are all important questions that you need to know the answer to.

2.  What specific rights do you have in your state? Can you file an intent to cure? This is something that you will file with local authorities that indicates that you intend to get the payments on the loan current. If your mortgage company will not talk to you, this can be something that is a last ditch effort to save your home. Does your state have a right of redemption period? If so, how long is it? A right of redemption means that if you can come up with all of the money (the entire loan balance plus fees) due the mortgage company, then you can save your home. If your state has one, this happens after the foreclosure sale is complete.

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There are many different possible solutions for your foreclosure procedure. Part of the trick of being able to save your house from foreclosure is being open to any idea, no matter how ridiculous it sounds. With that in mind, here are some possible solutions for you:

• Get another job to help you make the mortgage payments
• Find ways to cut back on your spending (no eating out or clothes and sticking to a strict grocery budget)
• Make a list of everyone who might be able to help you and go ask them
• Find “odds and ends” types of jobs (lawn mowing, shoe shoveling, etc)
• Start a part-time business
• Sell some of your stuff

This list is just to get you started thinking about what you can do to stop your foreclosure. Sit down with a pen and paper and do your own brainstorming. Think about how you can either generate more income or about how you can cut down on expenses. Ideally, you want the cut in expenses or the increase in income to be something ongoing. That way you can be sure that you can continue to make your mortgage payments every month.

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Finding a way to stop foreclosure sale on your home can be difficult, especially if you are having a hard time working with your mortgage company. So how can you do it? What options do you have?

Sometimes getting a third party involved can be what is needed to have your mortgage company work with you. Getting an attorney is ideal since they have knowledge of the laws involved with the foreclosure process and how to best protect your interests. The mortgage company will also likely take an attorney more seriously than they will take you.

If you cannot get an attorney, the next best thing is getting advice from a third party about what to do in your situation. Talking to a HUD approved housing counselor could be just what you need to figure out how to deal with your mortgage company or to figure out a way around your mortgage company.

It is also a good idea to do some research to see what the foreclosure laws are in your state and what rights you have under those foreclosure laws. You do have some protection under those laws but you need to know what they are so that you can use them to your advantage.

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Finding a way to stop foreclosure sale on your home can be difficult, especially if you are having a hard time working with your mortgage company. So how can you do it? What options do you have?

Sometimes getting a third party involved can be what is needed to have your mortgage company work with you. Getting an attorney is ideal since they have knowledge of the laws involved with the foreclosure process and how to best protect your interests. The mortgage company will also likely take an attorney more seriously than they will take you.

If you cannot get an attorney, the next best thing is getting advice from a third party about what to do in your situation. Talking to a HUD approved housing counselor could be just what you need to figure out how to deal with your mortgage company or to figure out a way around your mortgage company.

It is also a good idea to do some research to see what the foreclosure laws are in your state and what rights you have under those foreclosure laws. You do have some protection under those laws but you need to know what they are so that you can use them to your advantage.

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As soon as your home goes into foreclosure, there are a lot of people who will claim that they can help with foreclosure. The truth of it is that most of them are scams. There are people who claim to be investors, others who claim they can help negotiate a short sale with your lender, others who claim they can negotiate a refinance with your lender. Any of these will likely be scams. Many of them will ask for money upfront and some will claim to have negotiated a deal for you and ask you to send them a check.

You can get real help from HUD counselors, from state or local foreclosure hotlines, from workshops put on by local agencies, and from an attorney. Except for the attorney, all of these other services will be either free or very low cost. Paying for an hour of an attorney’s time so they can review your situation might well be worth it. They know the laws and can help you understand what your rights are.

Whenever someone says they can help you out of your situation, be sure to ask lots of questions, never sign anything you do not understand, and be sure that you know what you are paying for before you hand over a check to anyone.

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I know what you’re probably thinking; why would someone not want to stop mortgage foreclosure on their home? There are a lot of things that you need to take into consideration when you are facing foreclosure. And one of the most important questions is: can you afford the home at this time and will you be able to in the future? If you do not make enough money to be able to afford not only the mortgage payments but also the utilities and maintenance on the home, you need to seriously look at whether it makes sense for you to even try to stop the foreclosure process.

If you’ve been laid off, you might be able to work with your mortgage company to temporarily stop payments without any penalties. But if the prospect of you being able to find a job soon is not very good, then you need to look at if it is even worth it to save your home.

The truth of the matter is that you can find another place to live. Even with a foreclosure on your record, you can find somewhere to live. It might not be ideal and it might not be what you want to do but you need to consider the long-term financial consequences of your decision. How much is it worth to you to save your home from foreclosure? Is the price too high?

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If you file ch 7 or 13 to stop a foreclosure sale, can you stop the bankruptcy petition at a later date if for example the repayment is not feasible, and still just delay the sale of the property (primary residence)? Also, if you do file and own half of another property in another state (FL) equally with another relative and it is your father’s life estate (not ownership), will that property be affected at any time by the bankruptcy filing (the other house is worth quite a bit)? Thanks

Capture 13 allows you to reorganize your bills.

This is the situation:

My father’s home is in foreclosure and it probably foreclose within a week. I would like to know how I can attain the home and recieve a home loan. I do not have anything for the down payment. I’m 20 years old and have no credit history though I have friends who would be living with me in this home with remarkable credit. Also, if I can get the home after it’s foreclosure, does my father have to sign anything to me? Really need help. Thank you.
I live in Los Angeles County btw.

if you let the foreclosure process get to the point where the bank takes it back, you can investigate when it will be up for sale at the local court house. However, you have an upper hand, as you know it is being foreclosed on. My suggestion is that you contact the bank whom has the mortgage on your dads house. The bank do not want to take back the house, as it is bad debt on their books, and the bank most likely have alot of bad debt already. Try and negotiate with the bank to take over your dads payments, or even negotiate a monthly payment the bank determines you can afford. In short contact the bank, come to an agreement with them how much you can afford (bring your pay stubs & W2’s), and I would think the bank wants to work with you. Worst case senario, buy the property under the HUD program that allows you to put down only 500 $.

good luck

I need some help with a ? and I can not find a confident answer to anywhere. I’m referring to when you don’t pay ur property taxes in California… Does this show up on your credit report? I’m not referring to any other type of tax lien, meaning all income taxes are current, and all mortgage payments are current. By this point, someone must have not paid their property taxes within the last year or two, and since checked their credit reports. Are property taxes even connected to your SSN?

I found this in another post here, but I’m not sure if it is true…
"This answer is based on a referenced book below. So it isn’t my opinion that I just randomly typed up.
First, property tax liens are not part of the three credit agencies reporting. Personal tax liens are, but not property tax liens. Second, the mortgage company will pay for it during the foreclosure procedure. Source: Complete Guide to Real Estate Tax Liens and Foreclosure Deeds: Learn in 7 Days

Anyone know for sure?

Any taxes that are in default are reported to the credit bureaus. If the taxes are not paid in a certain time frame, you could lose your house in a sheriff sale and you would still have to pay the "mortgage" even though you no longer own the property.

http://www.operationrest.org/
How to stop foreclosure through loan modification using Making Home Affordable (HAMP) Guidelines. This video contains Proven Steps 1, 2, 3 and 4 of a 15 step Lesson. This follows the instructions found on www.operationrest.org.

How To Stop Foreclosure Free national non-profit will help you to avoid foreclosure, providing information for preventing foreclosure. Stop house foreclosure today with easy to follow instructions.

Operation Restoration
http://learntostopforeclosure.com
863 Ormewood Ave SE
Atlanta, GA 30316
(404) 963-1082

Duration : 0:8:39

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