How to Stop Foreclosure If a Sale Has Been Scheduled?

vckgkNo one wants to miss out on making any mortgage payments, but life is unpredictable and nobody knows what is going to happen tomorrow. In some critical incidents, like the death of a family member or the loss of a job, you won’t have any option except missing your mortgage installments. Thus, your lender will put your house or property on a foreclosure sale. However, there are various ways to stop the foreclosure sale even if it has already been scheduled.

Following are the guidelines for you which would be helpful to stop the foreclosure sale:

  • Stopping Foreclosure: There are 2 kinds of foreclosure sale; i.e., non-judicial and judicial. In case of non-judicial, the sale gets scheduled without any court direction and it takes up to five days for the sale to be scheduled. You should immediately take help of the loan modification experts and they will guide you on how to stop the foreclosure sale. But in judicial sale, the sheriff makes this happen and the sale may take even longer time than the non-judicial sale. In the meantime, you should consult a loan modification firm in your state.
  • Financial Help: Nowadays, there are so many loan modification companies in the market to provide finance in those cases where the borrower’s house/property is on the track of foreclosure sale. You should immediately rush to a loan modification firm. Take help from them and pay off in full all the charges in order to stop the foreclosure sale.
  • Buy Time: Once you receive notice regarding the foreclosure sale of your house/property, you should immediately contact a loan modification lawyer to discuss your plan with them. They will file a lawsuit to the court (if it’s a judicial sale) or will send a letter to the lender (if it’s a non judicial sale). As a result, you will have more time to arrange money in order to stop the foreclosure sale.