How Can I Stop A Foreclosure?
December 13th, 2009 - ByPosted in Stopping Foreclsoure
We are 3 months behind. I finally found work and we have tried to work with the mortgage company with no luck. Do any of those places that advertise that they can stop a foreclosure work? Any input would be appreciated. If it makes a difference or not we live in TN
5 Responses to “How Can I Stop A Foreclosure?”
December 13th, 2009 at 3:14 pm
Be very careful about the “Stop Foreclosure” lawyers and companies. Some are not reputable and others are outright scams.
Check out the website for HUD (Housing and Urban Development) for Tennessee: http://www.hud.gov/local/tn/homeownershi…
The fact that you live in Tennessee is very important because state law governs foreclosures. I am not in your state, but many states have a mandatory redemption period (in MN, our redemption period is 6 months) which may provide you with a chance to resolve the issue or sell your home.
If Tennessee has a redemption period, you may be able to sell your home or arrange for a short sale to get out from under the mortgage. In either case, a foreclosure will affect your credit rating and your ability to purchase another home.
With the number of foreclosures these days, I am a bit surprised that the mortgage company won’t work with you. There may be a state run agency that can help you negotiate with your lender. Or contact a HUD approved conseling agency: http://www.hud.gov/offices/hsg/sfh/hcc/h…
Please be careful and good luck.
December 13th, 2009 at 3:17 pm
You need a lawyer-bankruptcy preferably. The businesses that stop foreclosure simply pay off what you owe and they own the house.
Not great folks-you’ll be out immediately.
Good luck.
December 13th, 2009 at 5:29 pm
foreclosure bailout fast
December 13th, 2009 at 7:14 pm
There was an article in my local paper about the businesses that advertise that they stop foreclosures, the vast majority of them are scams.
You could sell, but most people want to keep their house.
Is there anything of value that you could part with to make the payments current? Although this is not a great option, could you obtain a CC, get a cash advance for the money you owe, cut up the card and pay it off ASAP?
Most mortgage companies are working with their clients to keep houses out of foreclosure, it is terrible that yours isn’t when you are getting back on track.
December 14th, 2009 at 1:09 am
Do a short sale. You can also call 317-536-6899 ask for Cameron tell him Ms. Bond sent you – he specializes in this area – Niche Financial see them on the web – http://www.nichefinancial.com
Leave a Reply