Stop Mortgage Foreclosure

It is true that there are many aspects of your foreclosure procedure that you have no control over. Your mortgage company’s policies, the laws in your state, the timeline that you have to work with. None of these can you control. But rather than focus on those, turn your focus to those areas that you have complete control over.

How fully, timely and accurately you respond to your bank is an area that you control. Once you get behind in your payments, your mortgage company should contact you. If they do not, be sure to contact them. Be sure to promptly return all phone calls to your bank. Be sure to fully explain your situation to them. If you got laid off from your job and that is why you cannot pay them, tell them that. There are typically certain workout packages that they can offer you based on your situation. Be sure to give them accurate information about your finances. If you are able to get a possible workout package with them, be sure to provide all of the information that they are requesting. Also be sure to provide it as quickly as possible.

Another area that you have complete control over is your attitude. You can choose to be negative or positive in how you look at the situation and in how you respond to people. You can choose to blame others or you can look for solutions to your problem instead. You can choose to see the negative in the situation or you can choose to look for the lesson and the gift in this experience.

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How do you find out what the foreclosure procedure is in your state? Why do you even need to know?

Every state is different when it comes to foreclosure. You have to understand how it works in your state if you want to stop it. There are different laws and different timelines for each state that govern how foreclosure works and how quickly it happens.

So where can you find out that information? There are many different sites on the internet that discuss foreclosure timelines and procedures for each state. The thing that you must remember about these sites is that they are mostly privately owned and only as good as how often they are maintained. While these sties are a good starting point, you need to be sure to verify this information against a credible source like your state’s foreclosure web pages. If you cannot find it on your state’s website, then try calling the appropriate department at your state’s government offices.

You certainly do not want to view the foreclosure timeline for your state on some random website and base your plan to stop foreclosure on that timeline. You need to verify anything that you find on the internet against a credible source.

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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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What help is there for you in your foreclosure procedure? More than you might think, especially at this point. Because of the huge problem of foreclosure, there is more help now than ever to help you save your house, especially if the house is your primary residence. Most of the help out there is for homeowners who are in danger of losing their primary residence. So how do you get access to this help?

It could be as simple as calling your bank. Tell them your situation and ask them what they can do to work with you. Ask them if your loan with them qualifies you for any foreclosure help under President Obama’s foreclosure program.

Another good resource are those in your state or local government. There are many state and local programs to help educate you about foreclosure and to help you look at options.

HUD counselors and Hope Now are also good sources of information and help. They can also help educate you about foreclosure and what you can do to get help.

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What areas in your foreclosure procedure are vital for you to know? What are the things that you must know if you are going to be able to save your house? This is not always an easy question to answer since every situation is unique and because foreclosure laws in each state are different. But there are some general things that you should know.

One of those is directly related to the foreclosure laws in your state. You need to know what they are and most importantly, what the timelines are in your state. This is vital because if you miss an important deadline, you could lose your house.

Another important thing to know is where exactly you are at in your foreclosure procedure. Doing a bit of math and looking at the documents you have received from your bank and their attorney should help on this one. You will have gotten some sort of documentation that tells you when your foreclosure began. Since you know now what the timeline is for your state, do some math to figure out where you are at in the process.

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No one ever tells you just how much of an uphill battle it will be. You will have to fight with your mortgage company. And given the stress that you are under, chances are that you will fight with your spouse and anyone else who lives with you. I know that my own foreclosure procedure felt like a constant battle.

But the part that was the most frustrating and exhausting was fighting with my mortgage companies. I have a first and second mortgage on my home and the battles that I went through with my mortgage companies were almost constant. One continuously lost my paperwork and even lost an over $6,000 money wire that I sent to them. With the other, I could never get a live human being when I called and I was at their mercy when it came to timing. I had to make myself available whenever they called because otherwise I would end up playing phone tag with them yet again.

Your foreclosure procedure is a nasty business and anyone who tells you otherwise is lying to you. It will be a fight and the stakes are high. Be prepared.

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There are many ways that a foreclosure procedure can be stopped after it has been started. You need to figure out what your situation is and what the best alternative is for you. That depends on several factors. Overall, there are a few questions you should look at:

• How much money do I currently owe the bank in missed payments and fees? (You can get this figure by calling your bank and asking them to tell you how much it would be to reinstate the loan.)
• Do I qualify for a workout arrangement with my bank? (You can find this out by asking your bank if your situation qualifies as a financial hardship situation.)
• How much money do I have at my disposal in order to save my home from being foreclosed on? (Only you can decide how far you’re willing to go to come up with the money you need.)
• How long do I have before my foreclosure sale? (You need to know the timeframe that you’re looking at. You can find this information on the paperwork that you got from your bank’s lawyers.)

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Let me start by saying that the foreclosure on your home is not your fault but it is your responsibility. What does that mean? It means that you need to take responsibility for the part that you have played and that you continue to play in your foreclosure procedure. This is not easy and requires a brutal kind of honesty with yourself that many of us would rather not take on.

I know that being honest with myself was something that I did not want to do during my foreclosure procedure. It required me to really look at what I had done and take responsibility for the role I played in it. It is far easier in foreclosure and in life to blame the outside world for what is happening in your life. But I encourage you to really get honest with yourself about the role that you have played in it. Not to beat yourself up for your mistakes, but so that you learn from it and so that you can move forward in a positive direction in your foreclosure procedure.

When I really took responsibility for my actions, that is when I was able to move forward in a positive way in my foreclosure procedure. It was not easy but as soon as I did that, I was able to make things happen and stop foreclosure.

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My foreclosure procedure taught me many things about how foreclosure works and about myself. There is a lot that you can learn from foreclosure if you open yourself to the lessons that you are being taught. Here are the top 3 things that I learned during my own foreclosure.

You can not expect to stop your foreclosure procedure unless you talk to your lender. It is easy to bury your head in the sand and pretend that foreclosure is not happening to you. I did this for more months than I care to remember. Call them. Talk to them. See how they can work with you. You will never know what solutions they can offer you unless you ask.

I also learned that there are a lot of scam artists out there who are ready to take advantage of homeowners. Once your foreclosure procedure becomes public knowledge, the scam artists will start crawling out of the woodwork. They will tell you that they can save your home from foreclosure and they will ask for a lot of money upfront. 

You have to believe in yourself and in your ability to stop your foreclosure procedure. If you do not believe that it is possible for you to save your home, you won’t. You cannot create something that you believe it is impossible for you to create. You have to know that you can save your home and be willing to do what you need to do in order to make that happen.

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Two of the most important things that I did during my foreclosure procedure were to get informed and remaining calm (at least mostly).

Being an informed homeowner is one of the most important things you can do for yourself while you are in the middle of foreclosure. No one cares as much as you do that you are in the middle of foreclosure and no one else will ever care as much as you do. One of the mistakes that so many homeowners make is simply not truly understanding what happens in a foreclosure procedure. Taking the time to understand what will happen in your foreclosure is some of the best time you will ever spend.

Remaining calm during your foreclosure procedure benefits you in many ways. One of the most important of those being that it helps keep your own frame of mind more positive and in control. I know that this is a lot easier said than done. Foreclosure can certainly be an emotional time but getting emotional with your mortgage company is not going to get you anywhere with them. I can tell you from my own experience that it did not work for me.

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