A Foreclosure is the process of taking possession of a mortgaged property as a result of the mortgagor’s/Borrowers failure to keep up the mortgage payments. There are different stages to the foreclosure process and the process regulations and time frames will vary from state to state. When a property is in pre foreclosure (NOD, LIS), the owner still has a chance to stop the foreclosure process by paying off what is owed or by selling the property. The pre foreclosure period time frames will vary from state to state. Once an Foreclosure sale date has been set it may still be possible to stop or delay the process but its very important to contact a specialist. It’s very wise to seek help from a specialized third party to assist you in working with your lender as your lender is not always thinking of the best outcome for you, But be careful for unlawful companies who charge for these servicers up front.
If you have questions about an underwater mortgage, loan modification, foreclosures ,short sales , Reverse Mortgage Short Sale please call us at 888-558-5856. or request contact from a specialist below.