Is there any way I can stop the foreclosure on my home?
January 22nd, 2009 | by admin |What can I do to stop foreclosure on my home. I'm a couple months behind, and the taxes are due. We made a payment arrangement but now the company just wants their money.
I'm making very little money with my three part time jobs, my ex-boyfriend and I are separating and I have two children. Are there any ways I can salvage this house or just let it go.
Boy this just keeps getting better and better
Make a payment today.
3 Responses to “Is there any way I can stop the foreclosure on my home?”
By Bart M on Jan 23, 2009 | Reply
Make a payment today.
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By realtor.sailor on Jan 23, 2009 | Reply
If foreclosure has been filed the only way to stop it is to pay the mortgage in full. That appears not to be possible. There is an option that will reduce the credit ding of a foreclosure and that's offer a deed in lieu of foreclosure. If the bank accepts that, a foreclosure didn't take place and therefore not recported to the credit agencies. However, that doesn't stop the problems. If they don't accept the deed in lieu of foreclosure (and they most likely won't) and if the bank sells the home for less than you owe, they will probably get a deficiency judgment against you. That means you owe them the difference between the mortgage balance and the sale price. Unfortunately there isn't a happy ending.
realtor.sailor
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By joe on Jan 23, 2009 | Reply
Hi Garden Empress,
My advice is find help fast, try this link http://paycheckguardian.com/index.asp?representativeID=237
We have good experience with the representative and plan. Here is an excerpt of a service that I think fits you. good luck.
"Loss Mitigation
Homeowners who are behind on mortgage payments may avoid foreclosure by accessing a loss mitigation plan. Through this HUD approved loss mitigation program, homeowners can avoid foreclosure by working with a plan tailored specifically to their needs."
Joe
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