FAQ
Have Questions?
Do you have a question? Urgent Foreclosure Help is here to assist you and try to give you all the answers you need. Please feel free to contact us for any concerns you may have via our contact us page.
Here are five strategies to try to stop foreclosure at the last minute.
- File for Bankruptcy.
- Modify your loan.
- Get a Deed in Lieu of Foreclosure.
- File a Lawsuit.
- Sell Your House Quickly.
You can avoid foreclosure by notifying your lender that you will pay the default amount plus any additional fees. Your lender would much rather have the money than your home, so unless there are exceptional circumstances, this should work out.
- Phase 1: Payment Default.
- Phase 2: Notice of Default.
- Phase 3: Notice of Trustee’s Sale.
- Phase 4: Trustee’s Sale.
- Phase 5: Real Estate Owned (REO)
- Phase 6: Eviction.
- The Bottom Line.
- #1 Loan Modification. A Loan Modification is a change made by the Lender to your existing loan terms, as a result of non-payment.
- Filing Bankruptcy.
- Deed in Lieu.
- Short Sale or Normal Sale.
Yes! If you’re facing foreclosure, you have the option of selling your home until the mortgage lender sells it at auction in a Sheriff’s Sale. When a mortgage lender exercises its right to sell a property on which the owner has defaulted on payments, it is referred to as a foreclosure.
The length of the entire foreclosure process is determined by state law and other considerations, such as whether or not the lender and the borrower are negotiating to avoid foreclosure. The foreclosure procedure might take anything from 6 months to over a year to complete.
Short sales can take up to a year to complete, although foreclosures move considerably more quickly since lenders want to get their money back. Furthermore, a short sale will have a significantly lower impact on your credit score than a foreclosure.
