Stop Mortgage Foreclosure

As we start a new year, it is a good time to reflect on possibilities. I believe in possibility and that no matter where you are in the foreclosure process that it is possible for you to stop mortgage foreclosure and save your home. I saved mine with less than 30 days to go to the sale date so I believe that it is possible for you to save yours. Live in a space of possibility.

There is a lot of information out there about how to save your home from foreclosure but very little, if any, of it has to do with your mental attitude and how you are thinking about your foreclosure. Many people, including myself, choose to live in state of denial about their foreclosure. “This is not happening to me.” Denial will not stop mortgage foreclosure on your home. Thinking in possibility will.

You cannot escape the fact that your house is in foreclosure. You simply can’t. But you can decide how you will think about it. Choose to think of ways to save your home. Choose to educate yourself about how to save your home. Think of at least one thing every day that will help you save your home. Research one way every day to stop mortgage foreclosure on your home.

By doing these things every day, you will be one step closer to saving your home.

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Even if you are facing foreclosure, you can still have a happy and enjoyable holiday season. It may take a bit more work and effort to focus on the positive, good things in your life but those good things are there. And at this time of year that is more important than ever. Here are a few things that can help you stop mortgage foreclosure and still enjoy your holiday season.

Control your attitude. You may not have been able to control the circumstances that lead you into foreclosure but you have complete control in how you react to it. If you want to stop mortgage foreclosure on your home, make a conscious effort to be positive and upbeat when dealing with your mortgage company and when talking about your foreclosure.

Think about and focus on what really matters to you in life. Yes, I understand that your house is important to you but at the end of the day it is still just a house. Family and friends are more important than any house. Focus on the people who love you and who will be there for you through thick and thin.

Let the joy of the holiday season into your heart. Keep your head and your spirits up. You can get through this.

Happy Holidays!

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Every foreclosure situation is different and what will stop mortgage foreclosure for one person will not stop it for another. Your ability to stop foreclosure depends on several factors, some within your control and some outside of your control. Let’s look at a few of those factors so that you know where to spend your energy.

Factors You Cannot Control

When you are looking at ways to stop mortgage foreclosure, understand that the biggest piece of this that you cannot control is who your mortgage company is. You are stuck with whoever you are stuck with. Some will be easy to work with and others will not. It will do you no good to wish that you have a company that is easier to deal with so just focus on working with who you have.

Another thing that you cannot control in the foreclosure process is the timeline that you have to work with. This timeline is dictated by the laws in your state and you cannot control that. In order to stop mortgage foreclosure, figure out how you can work with the timeline that you have.

Factors That You Can Control

You always, always have the ability to control how you react. This is true in your foreclosure situation and really in all of life. You may not have been able to control the factors that landed you in foreclosure. But you have a choice in how you react to being in foreclosure. If you want to stop mortgage foreclosure, focus on finding solutions instead of bemoaning your fate. That helps you retain control of the situation.

You can control how well you communicate with your mortgage company. If you want to stop mortgage foreclosure, you are going to have to work with your mortgage company. There are simply no two ways about it. You can call them up and yell at them or you can ask them to help you come up with solutions. The people at the other end of the line have no control over the fact that your home is in foreclosure. Accept that and do what you can to work with them.

The best way to stop mortgage foreclosure is to focus on what you can control instead of getting upset or angry about what you cannot control.

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You always have options when it comes to being able to stop mortgage foreclosure. The key is finding the right option for you and your situation. There is never a one-size-fits-all proposition when it comes to foreclosure. The solution I came to in order to save my home may not work for you.

The one thing you do need to do right now if you haven’t is talk to your mortgage company. You will never stop mortgage foreclosure if you don’t find a way to work with your mortgage company. The ways that you can do this vary. You can deal with them directly, hire an attorney to help you or find a foreclosure specialist to help you. But one way or another, dealing with your mortgage company is a given.

Chances are good that you will need to come up with at least some money in order to stop mortgage foreclosure on your home. It’s going to be hard to convince the mortgage company that you want to save your home if you can’t find a way to come up with at least some money.

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If you expect to stop mortgage foreclosure on your home, it is going to require that you do some planning.

Planning out how you will get the money you need. This one involves figuring out what your mortgage company wants and then coming up with a plan for how you are going to get it. I had to do this in order to stop mortgage foreclosure on my home. It was not detailed, just a list of what the mortgage company wanted and different ways that I could get the money they wanted.

Planning out who you are going to ask for help and what you will need from them. Lets face it, if you are going to stop mortgage foreclosure on your home, you are not going to be able to do it by yourself. You will need help. In my situation, that meant calling on friends and family to help me in many different ways. Was it easy to own up to my friends and family what was happening? No, but it was vital for me to do in order to save my house.

Bottom line, you will need to figure out how much money you need, where it is going to come from, and who you know that will be able to help you stop mortgage foreclosure.

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Belief that you can stop mortgage foreclosure on your home is just as important as taking the actions necessary to save your home. Belief is a powerful thing. It can help you do what should be impossible to do.

I have had first hand experience with this in my own foreclosure experience. By all rights, I should have lost my house. But I haven’t. I have been able to stop mortgage foreclosure on my home. I attribute at least part of that to the fact that I believe that I can save my house. Doubt about it has not entered my mind. I know that I can save it and I have done everything that I have needed to do in order to make that happen.

Don’t get me wrong, I don’t think that you can just sit around wishing and hoping that you will stop mortgage foreclosure and save your home. You have to take the actions necessary in order to make it happen. It will not happen on it’s own. And believing that it will work if you don’t is ridiculous. But that belief must be there if you do ever expect to stop mortgage foreclosure and save your home.

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If you do not stop mortgage foreclosure, the consequences for your credit and your ability to buy a home in the future are severe. You cannot simply walk away from your home without having the financial consequences of that action follow you for years to come.

The foreclosure can stay on your credit report for 7 to 10 years. This will affect interest rates on any loans that you get and on any credit cards that you have. The interest rate on one of my credit cards has jumped up severely since my foreclosure began. Your credit score will also go down significantly because of foreclosure. This will make it pretty much impossible to get any kind of loans or credit for a while.

Your future ability to buy a home will also be severely limited if you do not stop mortgage foreclosure. You probably will not be able to buy a home for 3 to 4 years and may not be able to buy another home for 7 to 10 years.

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One of the biggest mistakes that people make when they face foreclosure is denying that there is a problem. If you ever hope to stop mortgage foreclosure, you’re going to need to get over that denial. If you can’t admit that you have a problem, you certainly can’t hope to fix it. So step one to stop mortgage foreclosure is to get your head out of the sand and face the fact that your home is in the middle of foreclosure. 

You can get help and you can stop mortgage foreclosure if you simply admit that your home is in foreclosure and that you need help. Chances are good that you are not going to be able to stop mortgage foreclosure all by yourself. You are going to help and advice. Get the help of professionals who deal with foreclosures every day. A great place to start is with the people at your bank. Most banks have a foreclosure department and talking to one of the professionals in that department at your bank can help you understand what your options are to stop mortgage foreclosure. But these professionals cannot help you unless you first admit that your home is in foreclosure.

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In order to stop mortgage foreclosure on your house, you will have to find some way to work with your bank. You have a much better chance of being able to work with them if you can prove financial hardship. Financial hardship is when you cannot pay your mortgage because of an unexpected situation.

Some typical examples that many banks will accept as financial hardship are the loss of your job, if you suddenly became disabled or divorce. Your mortgage company might be able to offer you a loan modification or a forbearance (a temporary stop in payments). Either of these programs or actually any program that your bank can offer you will help you to stop mortgage foreclosure.

If you do apply for a financial hardship with your bank you will need to be prepared to provide your bank with the following:

• Current income and expenses sheet
• Proof of current income
• Tax returns for the past few years
• A hardship letter (In this letter you will need to explain what your financial hardship is.)

You will need to be willing to work with your bank and provide them everything that they need if you want to stop mortgage foreclosure.

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Foreclosure varies from homeowner to homeowner and the best way to stop mortgage foreclosure on your home may not be the best way for someone else to stop foreclosure on their home. Every situation is unique and you need to find the best solution for you.

Working with your lender is a good way to figure out the best way for you to stop mortgage foreclosure. They can tell you what they are looking for from you. There may be some negotiation room with them and you need to make sure that you can afford the solution that they present to you. Depending on your financial situation, a forbearance or a loan modification might work for you. Your bank can tell you what they are able to do for you based on your current financial situation.

If your bank is not willing to work with you to stop mortgage foreclosure, it might be time to take your situation to a foreclosure attorney or other foreclosure professional. Know exactly what your financial situation is before contacting anyone so that you can give them all of the information they need to know. This will help them determine more quickly whether or not they are able to help you.

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