Stopping Foreclosure

In this article you can read about a unique method of stopping foreclosure immediately.

In the eventuality that you missed some payments or you have troubles paying them, this method should help you solve that problem. There is only case when this method will not work, and that’s when you already got a sale notice. For those house owners, there are extra steps that need to be taken, but the possibility still exists.

The lender will be challenged by an attorney based on a number of factors, like any violations from the lender, your possibility to pay back the loan, the presence of equity remained with the property, lender misrepresentations and so on. If the loan is challenged, the mortgage is put on hold immediately, while the process of the dispute is taking place.

Until the case is settled, the mortgage payments are stopped, and that can take from a few months to years. Payment can’t be demanded by the lender during this period and they also can’t charge late fees or interest. Also, the credit report can’t receive new negative items during that time period.
The challenge allows the house owner to save some money while staying at home, and later deciding on a course of action that is best for them.

Sometimes it will also allow them to renegotiate the payments of the loan and get a deal that the borrower can afford. If ultimately you decide to vacate the property, you will have enough time to find a new house and save some money to move.

What I like about this method is that you don’t need to have a job or income in order for it to work. If there are some errors in the loan contract, you might be able to get some financial relief from it.