How to stop a foreclosure without filing bankruptcy?
Question:
Answer:
fIRST, i THINK that is BS. They cant stop youfrom making a payment.
Second, to answer your question.
A couple of gallons of gas and a book of matches should do the trick.
REFINANCE WITH A DIFFERENT COMPANY.
Talk to an bankruptsy attorney, I know you don't want to file for bankruptsy, but they can help you stop things like this if its possible.
because they want to **** you over into a higher financing cost. go in there and make some noise and get a lawyer to read your lending contract next time.
find someone to take over the property. even if you lose all your equity, you would avoid foreclosure. under foreclosure you lose your equity anyways.
Can they refuse to take a payment? Check your city or state, and see if there are any agencies that help with homeowner's rights or mortgage regulation. It's possible they can help you.
It seems like a lender would rather get you out of arrears than go through a foreclosure.
if you are purchasing/refinancing your home, you can lock the rate for upto 45 days...
if you are behind payments and the house is in foreclosure, that is different story and you need to pay all the back payments plus attorney fees and other BS fees they charge...
They want the full payment. If they accept the partial payment then the foreclosure would be delayed for some time and they meanwhile have no particular assurance that you will eventually make them whole.
You should contact an attorney to help you through this mess. I know if you are short on funds then spending more on an attorney seems like a bad plan, but it is better than loosing your home and all that you invested in it.
All right, here is my 2 cents worth. I agree with one of the former posters, they would actually gladly accept full payment but they don't want to accept anything less than full payment as it would force them to re-start the foreclosure process (they would accept partial payment after you have a job as they would then expect you to continue making payments and eventually catch up on the rest of the money you owe them).
Here is what I'd try (I'd suggest rehearsing the call beforehand, getting what you say on the phone just right is very important). I would try calling them again, and immediately ask for a supervisor (talking to one of the grunts that answers the phone will get you nowhere). Once you get the supervisor on the line explain the situation in detail, throw in how sorry you are the situation has gone this far, how you really want to make up the money owed them, how you are starting a job soon and will certainly then be able to make up for what you owe them. If you can furnish them some proof of your new job - that would be really nice, but bear in mind they may very well call your future employer for verification and then your future employer might find out about this, and this could be embarressing (use your own judgement here).
Now after all this, offer to pay them as much as you can afford, and offer them specifically how and when you will be able to catch up on the rest you owe them (an plan for paying the rest shows them your have thought this through, are really doing your best, and can make up the remainder). If they still refuse to accept partial payment tell them that you be forced to declare bankruptcy before the foreclosure otherwise and can't they please help you out, and see if this changes anything (it probably won't but its worth a shot).
As an aside, they may not care if you declare bankruptcy as if the loan is a va or fha loan they get paid by the va or hud and won't lose any money either way. Even if its a conventional (uninsured) loan they still will probably get all their money if the house has much equity, so they know they'll eventually get their $$$. Put another way, they will probably get all their money (plus padded expenses) no matter what so they don't care if you declare bankruptcy.
If you still have no luck getting them to take your partial payment, you have the lousy choices available of:
1. Paying back everything you owe them b4 foreclosure.
2. Declaring bankruptcy.
3. Letting them foreclose on the property - this is a terrible choice, avoid this at all costs.
4. Possibly getting a job before the foreclosure. This would mean they would now take a partial payment from you thus halting the foreclosure. Maybe you could get a temp job until your other job starts up.
5. Consult a lawyer, maybe they know something else and they can help you with the bankruptcy filing if that is required.
Good luck, you clearly are trying your hardest, I really feel for you.
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