2007-08-21 12:58:03 · 7 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
You can delay foreclosure, but you must be able to come with a plan to satisfy the lender, or have the cash to pay off the mortgage, or have a buyer. The lender does not want the property. He just wants his money. Get some ideas from an experienced attorney who has done these things previously. Ask for his billing rate in advance.
2007-08-21 13:13:07 · answer #1 · answered by Bibs 7 · 0⤊ 0⤋
Take a breath and tommorrow morning get on the phone and call the loan company. Be proactive, reach out to them. Ask for the loss mitagation department and explain what is going on calmly and cooly. They will suggest options to help you and them get through this trying time. Ask for a short sale package if you can't live with what they are suggesting. This will give you the opportunity to try to sell the house with them taking a loss. It keeps you out of foreclosure and gives you a chance to be able to buy again after a year or so of on time payments in your next residence. You are not alone many people are in this situation! I wish I could help more. So sorry for your troubles!
2007-08-21 20:14:13 · answer #2 · answered by helprhome 5 · 1⤊ 0⤋
I may be albe to point you the right direction... I need to know more. How much equity is available in the property; Loan to Value? How far are you into foreclosure proceedings? I have a couple resources for that exact type of thing, but I need to know more. Email me when you have time, I will look into it for you.
2007-08-21 20:05:54 · answer #3 · answered by xander 2 · 0⤊ 0⤋
You can't without communicating with your lender. They have a right to get paid. If you cannot reach an agreement with them, then there is no way to stop a foreclosure unless you are willing to sell it to an investor and lose all of your equity...which is always better.
2007-08-21 20:14:11 · answer #4 · answered by Expert8675309 7 · 0⤊ 0⤋
Try to work something out with the mortgage company. They would rather have your money and not your house.
2007-08-21 21:29:48 · answer #5 · answered by Anonymous · 0⤊ 0⤋
give me an email. i know a friend who helps people out of foreclosure.
2007-08-21 20:32:35 · answer #6 · answered by bullet b 4 · 0⤊ 0⤋
Call this number now! 888-995-HELP. It is a counseling serivce approved by HUD to help homeowners with the loan mess. Please call them now.
2007-08-21 20:04:08 · answer #7 · answered by Alterfemego 7 · 0⤊ 0⤋