When is it too late to stop a foreclosure?

Once you’re several months late on your payments with no attempt to bring the account current, your lender will begin foreclosure and a sale will be scheduled. Exactly how this process unfolds, and at what point you’ll have permanently lost your home, depends on your state’s laws. However, here are some general things you can expect.At the foreclosure sale, your home will be auctioned off and the lender will use the proceeds of the sale to recoup as much of their losses as they can. In states without a redemption period, you can typically stop the foreclosure process up to the date of the foreclosure auction, though exactly when varies from state to state.

Can you stop foreclosure by paying the past due amount?

If your state has a redemption period, that means you’ll have a certain amount of time after the sale to purchase your home back or pay off the mortgage and remain in your home.Your state’s housing authority will have more information on the specific laws in your state.

What does a foreclosure defense attorney do for you?

If your mortgage lender issues a foreclosure action against you, a law firm specializing in foreclosure can help you analyze your debt and make an informed decision in the complex landscape of foreclosure law.You have options. A foreclosure lawyer could help you with reinstating the mortgage or, if it's too late, help you file for bankruptcy.

How To Stop A Foreclosure On Your Home