My Home Is Going Into Foreclosure, Can I File Papers Myself To Stop Foreclosure Or Do I Need A Lawyer?
January 13th, 2010 - ByPosted in Stopping Foreclsoure
You may be able to delay by asking for them to produce the note. But the only way to stop a foreclosure is to bring the note current or to work out something with your mortgage lender.
Here’s a link on how to request the lender to produce the note: http://www.consumerwarningnetwork.com/20…
**not legal advice. only an attorney can give legal advice.
10 Responses to “My Home Is Going Into Foreclosure, Can I File Papers Myself To Stop Foreclosure Or Do I Need A Lawyer?”
January 13th, 2010 at 6:46 pm
You can try to do this yourself or hire an attorney – which can be very expensive, but effective. What you’ll need to do if you want to try it on your own is contact your lender and tell them that you either want to modify your loan – if you want to stay in the house, or, if you don’t want to stay in the house, that you want to short sale – which is a better alternative than just foreclosing on your property. If you choose to modify your loan, you’ll need to give them the required documents ASAP (they’ll tell you what they need). Doing this, once the lender has your paperwork in hand, will postpone the sale date of your property, if you are that far along in the foreclosure process. It won’t cancel it, just postpone it, pending approval of your loan modification. Keep in mind the foreclosure time clock is still ticking and won’t stop unless the loan modification is approved or your short sale offer is approved. There’s so much to go over, but this is it in a nutshell. Good luck!
Additional info: Many times, if the lender agrees to modify your loan, they often roll the past due amounts, including the taxes and insurance, into the balance of the loan, bringing you current.
January 14th, 2010 at 1:23 am
What you may do is to file for a Loan Modification with your lender if you home is going into or already in Foreclosure.
There are actually many programs available for home owners (nationwide) to help bring loan current and keep your home. You can go to http://www.hud.gov, this website will give information on what you can do to keep your home.
You DO NOT need a lawyer to do this. You can either do it yourself by applying for a loan modification with your lender OR you get some guidance from a non-profit organization approved by HUD to help you along the way. It’s Free! The government pays for the counseling process.
Mainly to start the application process, contact your lender and ask for the “Loss Mitigation” department and inquire about the process. By standard, you’ll have to submit docs to verify your financial hardship i.e. paystubs, bank statements, appraised value, hardship letter (why are you behind or struggling with payments). You may still have to pay a certain amount that’s owed in order to get into a new agreement of (possibly) lower rate, lower principle…or both.
Do it ASAP! the process can take very long for an approval by your lender….while the wait, your home will still be in foreclosure BUT won’t be sold.
Good luck!
January 14th, 2010 at 2:55 am
you need to come up with the mortgage payment. you may be able to talk to a realtor about doing a “short sale”. then you could get rid of the debt without ruining your credit. call a realtor and ask-what have you got to lose???? good luck.
January 14th, 2010 at 3:37 am
You cannot stop a 2 ton locomotive.
You will need to pay the amount the bank is demanding to stop the proceedings, or prepare to move by the end of the year.
January 14th, 2010 at 4:59 am
You can’t stop it other then paying what you owe.
You can slow it down a few months by filing bankruptcy, but that will not stop the foreclosure.
You are not entitled to keep the money and the house.
January 14th, 2010 at 8:02 am
Try a short sell and move somewhere cheaper. In a short sell, you usually have to sell your home quite a bit below market value so that is sells quickly.
January 14th, 2010 at 8:45 am
Filing bankruptcy may derail this.
January 14th, 2010 at 12:23 pm
There are not papers that can be filed to stop foreclosure. The only way you can stop it is to pay up.
January 14th, 2010 at 12:25 pm
uh…would you do your own brain surgery?
It’s a serious legal action; you need a lawyer to have any hope of success
January 14th, 2010 at 6:53 pm
There is nothing to file because you cannot stop it. The ONLY way out is to pay what you owe.
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