Ways to stop foreclosure and stay in your home for free indefinitely, even when nothing else has worked
There are several ways you can delay foreclosure, and as you read on, you will learn many ways to stop foreclosure. doing this right you will be able to stay in your home for a very long period of time without making mortgage payments. Just make sure you know how to deal with each situation and use the legalities behind the foreclosure process.
The Obama Mortgage Modification Program really isn’t working the way it should. Over 90% of homeowners here in the US are now facing possible foreclosure and are not considered by this program because they do not meet the requirements to qualify.
There are ways to stop a foreclosure and delay the proceedings so that you can stay in your own property for a longer period of time. This is really easy if you have the right information at your disposal. You can even do it yourself without a lawyer. One thing to keep in mind is to never sign any papers about it and never leave your home behind.
Many people fall victim to scammers during this vulnerable period of the process. You’d be surprised how many homeowners get scammed by offering them a short sale or a quick fix to this problem. These will not save your home so beware of predators taking advantage of the situation you are in.
Here are some tips you can use to delay the foreclosure process:
Answering the Notice of Foreclosure:
A hardship letter is definitely one of the most used strategies, not only to be considered for mortgage modification, but also to get more time in your home or property.
Use all the time you can get:
First, avoid receiving the foreclosure notice for as long as you can. This little tip can get you months in your house. If they cannot get you to sign the letter, they will have to use other means to proceed.
If you have already received the summons, then you have approximately 20 days to respond to the foreclosure notice sent by the court. Don’t respond right away, wait about two weeks before responding to the notice.
By doing this, you get an extra month or so that you can use to plan ahead. Please note that this notice must be signed and received by a household member to be legal. Knowing this would be a great advantage for you.
In the audience:
After exhausting some preliminary options, you can request a hearing. Requesting a hearing in your local Circuit Court would also give you additional time. Some very knowledgeable people have used this strategy effectively to stay in their homes for up to a year.
Closing of Contracts.
There are other very effective strategies to delay the foreclosure process, such as reviewing your housing contracts for errors. Most closing contracts contain errors and mistakes, and if used correctly, this could stop the foreclosure process dead in its tracks for over a year.
Knowing ways to stop foreclosure is only part of it. Knowing what to do in the right situation would delay the foreclosure process by over 3 years. These tips have proven helpful to other homeowners, and you, too, can start using these strategies to stay in your home longer.
