How To Stop A Mortgage Foreclosure Sale

Are you one of the many people that currently need to stop a foreclosure

? Help is available for those who know where to find it, but you must seek the answers you need. The key to learning about stopping or avoiding mortgage foreclosure is knowing who to contact and where to seek help.

Dont Be Part of the Statistics

According to mortgage foreclosure statistics, there will be an increase in mortgage foreclosures during 2012. While this may be good news for investors and homebuyers who are seeking these properties, it is bad news for the economy and the homeowners who are at risk. You have the potential to avoid being one of the statistics as long as you do your homework and are aware of the options that are available to you in order to keep your home.

Forbearance agreement with lender

Loan modification

Refinance

Bankruptcy (Chapter 13 is the only way to guarantee you can keep your home)

Short sale

Quit claim deed

Click Here To Apply Stop Mortgage Foreclosure

Remember, lenders do not want to foreclosure on your home, especially not today when many homeowners are faced with upside down mortgages. They would much rather work with homeowners to bring the loan current or allow the homeowner to get rid of the property through a short sale. Even though the short sale means the bank agrees to accept less than is owed on the mortgage, it is likely they will receive more than they would in a foreclosure sale. Visit www.credit-yogi.com for information on these and other options for avoiding foreclosure.

Take Some Time to Research Before Making a Decision

Keep in mind you can stop a mortgage foreclosure in most states within hours of the salesome states allow you to do it within minutes of the sale. However, you dont want to wait until it reaches this point because the mortgage company will still saddle you with the cost of filing the foreclosure including all the legal fees that are involved. When you consider that it usually takes at least six months before the mortgage company is actually ready to foreclose on your property (most of the time it takes three months or more before it even goes into pre-foreclosure). This gives you plenty of time to research your options.

Finding a Stop Foreclosure Program

There are options available when you find yourself faced with foreclosure. The key is finding a stop foreclosure program that is right for you. It may mean bankruptcy or loan modification, but whatever meets your needs is the best option for you as an individual homeowner.

by: ane martin

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