9 ways to STOP Foreclosure
Catch up on payments
If you’re behind on payments, you can try to catch up.
A HUD-approved counseling agency can help you explore your options.
If you’re in a short-term financial bind, your lender may agree to temporarily suspend or reduce your mortgage payments.
Apply for a loan modification.
Your lender may be willing to rework your loan so that your monthly payments fit your budget better
File for bankruptcy
If the foreclosure sale is coming up quickly, you can file for bankruptcy to stop the sale.
Sign a deed in lieu of foreclosure
This is a legal agreement between you and your lender where you give your home’s legal title to the lender in exchange for being released from your mortgage debt.
This is a process that helps homeowners find an alternative to foreclosure.
You can redeem the property by paying off the full loan amount before the foreclosure sale. Some states also allow borrowers to buy back the home during a redemption period after the foreclosure sale.
Many deeds of trust require the lender to send a notice before accelerating the loan, which gives you a chance to cure the default and avoid foreclosure.