Stop Mortgage Foreclosure

Although every foreclosure is unique and there is never one solution that works for everyone, there are some basic foreclosure steps that happen in every foreclosure procedure.

It all starts with missing that first payment. Your foreclosure procedure has not yet begun at this point but if you miss two or three payments, you will probably be headed into foreclosure. This is the point where you have the best chance of avoiding foreclosure and saving your home. Talk to your mortgage company immediately about why you missed the payment and ask them what they can do to work with your situation.

Typically within 60 to 90 days after you have missed that first payment, your mortgage company will start foreclosure. You still have the opportunity to save your home at this point in the foreclosure procedure but it just got a little harder. Lawyers have now gotten involved and so have the courts.

After this point, the timeline that your state has for the foreclosure procedure becomes a factor. It could move very quickly after this point or it could take quite a while. You need to understand the laws for your state in order to know how quickly it will move at this point.

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Learning how to work with your mortgage company in your foreclosure procedure is vital if you expect to stop mortgage foreclosure on your home. But you have to understand that your mortgage company is your mortgage company. There is nothing you can do to change that at this point. They may be an absolute nightmare to deal with when it comes to your foreclosure procedure. The important thing is to be persistent and not give up.

You are going to have to deal with them in order to save your home. That is simply a fact. Come to terms with that and find a way to work with them. Here are some things that helped me in dealing with my mortgage companies during my foreclosure procedure.

• Persistence in calling them. I would call and continue to call until I received an answer. Try not to be annoying about it though or they may not call you back.
• Clarifying everything. If I did not understand something or had a question, I called. If I did not receive documents when I thought I should, I called.
• Being calm and rational when I called them. Now I admit it, this did not always happen during my foreclosure procedure but I tried. I always received a much better response when I was calm and rational.

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If your foreclosure is anything like mine, the start of your foreclosure procedure will be heralded by a letter from your mortgage company’s attorneys. In that letter, the attorneys told me that they had been hired by my mortgage company to start foreclosure proceedings. That letter was followed by court documents letting me know that the attorneys were asking the courts for a sale date of my home.

So what do you do now that your mortgage company has their attorneys involved? You have a few different options. One is to hire an attorney of your own. If that is feasible for you, it is definitely a good idea to get your own legal advice. At this point in your foreclosure procedure, you also still have the option of working with your bank. I know this because that is what I did to stop my mortgage foreclosure.

The other thing that is vital at this point is to understand the legal documents that are being sent to you. Read them over thoroughly and find someone well-versed in foreclosure, preferably an attorney, who you can ask questions of if you don’t understand something in those documents.

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When you go through foreclosure, it is important to know how the foreclosure procedure works so that you are prepared every step of the way. Some of the first things you can expect are:

• Getting calls from your bank. Before your house goes into foreclosure, you will get calls from your bank. Repeated calls. Take these calls and try to work with whoever is on the end of the line. This is your best shot at being able to stop foreclosure before it even starts.
• If you either don’t take the calls from your bank or are unable to work with your bank, you will then get foreclosure papers. Be sure to read these papers because they will tell you what to expect, what court dates are set and what your legal rights are. This will also tell you who your bank’s attorney is.
• A foreclosure sheriff’s sale date will also be established as part of the foreclosure procedure. Once this sale date is established and published (it will be published in some sort of local paper), you can expect the con artists to come out of the woodwork. There will be people who start calling and sending you letters to try to convince you that they can help you save your home. Beware of these people! Do not sign anything that you do not fully understand and do not hand over any money to these people.

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