4 Responses to “Once A House Is Scheduled To Be Sold At The Courthouse, Is There Anyway To Stop Foreclosure?”

1. Landlord Says:
   February 13th, 2010 at 6:03 pm

   There are a few different ways that you could still try and stop the sheriff sale. But it would be a good idea to have some sort of solution worked out that will let you keep the home or sell it, because most of these ideas only postpone the auction. They don’t stop it entirely — that’s up to you.
   First, you could just call up the bank and ask them to postpone because you are working on some plan to save the house. You’d be surprised that most banks will agree to hold off on the auction and give you an extra month. You should have some solution being worked on and submit written proof to the lender, but they can stop a sale at any time, even a few hours before it is scheduled to be sold.
   Second, you can try and work in the court system for a better solution. Obviously, the mortgage company got a foreclosure judgment against you and the house is being sold to satisfy that judgment. But you can always hire an attorney to help you reverse that decision or appeal it if the bank violated other laws and procedural rules in getting the judgment against you.
   Third, filing bankruptcy will immediately halt a sheriff sale. The bank will not be able to pursue collection activities for as long as the house is in foreclosure, which may give you some time to put together another plan. But you should not file bankruptcy the day of the auction, because it will probably go through and then have to be reversed later on, which can be quite difficult.
   Chapter 13 bankruptcy will result in you being given a payment plan to get back on track with your mortgage and other debts. The court will expect you to pay your regular monthly payment plus a portion of what you are behind. For many homeowners, this can be prohibitively expensive, so either make sure you can meet the requirements or have a longer-term solution in mind.
   Hope that helps.
   ForeclosureFish

2. foreclos Says:
   February 13th, 2010 at 10:08 pm

   In most cases, you have a redemption period that kicks in once the house is sold “on the courthouse steps” and you would have that time to pay off the loan to stop the foreclosure.
   The only way you can stop the foreclosure is to work something out with the bank or pay off the mortgage.

3. Pat B Says:
   February 13th, 2010 at 10:15 pm

   Besides filing bankruptcy, the main other way to stop an auction on the courthouse steps is with money. A huge project in my area was able to stop the auction just a few hours before it was scheduled to be sold recently by arranging a large payment.

4. Terry F Says:
   February 13th, 2010 at 11:15 pm

   File a bankruptcy. It will stop it at least for a time.

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