Ultimately, the only way to stop your foreclosure proceedings is a timely repayment of mortgage loan. Everything else is a temporary delay or postponing of foreclosure proceedings by the courts.

The following information may assist in providing suggestions in your course of action. The decision to stay in the property may result in overcoming the circumstances. If the outcome mandates a departure or untimely forced eviction, or voluntary moving out with a foreclosure placed against your record may hurt. You can possibly save your credit and help to lessen the damages.


If the monthly house payment (including property taxes and insurance) does not exceed 40% of the gross monthly income, it may be possible to keep the property. If your mortgage payment is greater than 40% of gross monthly income, consider selling or transferring to avoid negative impacts to your credit. The objectives are: Keep property if possible. Minimize damage to your credit.


When exploring options, come to terms with the existing lender.  Lenders want the loan current and not complete a foreclosure. Can you make up the defaulted amount over a period of months? Can you re finance or re-write the note and include the defaulted amount? Give lender a deed-in-lieu of foreclosure to preserve your credit?  You will need to have a good credit ratings later on.


Why the current loan note is in default and was a temporary situation. Are you able to restore back payments to catch up and can you make timely future payments? The lender will probably not be inclined to stop foreclosure proceedings if they are led to believe they will have to initiate the foreclosure process and required to start the same legal proceedings again in the next 6 months.


If you experienced a temporary financial setback which has since been cured and are going to be able to keep the property, first consider family and friends for a loan. It’s better than hard money loans, but make sure you will be able to pay the loan back. You do not want foreclose action. Some private investors will lend based on equity in the property. Credit FICO  score and gross income are not issues of importance with loan approval. Loan amounts amortized over 30 years can bring existing loans current, pay the financing costs and put needed funds quickly in your pocket.


This is a big step with a 7 year lasting impact on personal credit reports. Seek the appropriate legal advice for your particular situation. If the Notice of Default has just been filed on your house, you have sufficient time to explore the options for new loans or to selling the property. If the foreclosure sale is going to be held very shortly, bankruptcy is a very common way used to delay the sale. When you file bankruptcy, your financial matters will fall under the jurisdiction of the courts which could limit your options.  Again, its very important to seek good legal advice for help.


Are you aware that even if you lose your house to foreclosure, your lender can still hit you with a Deficiency Judgement (meaning you would still owe them money) for the rest of your life?

This can severely hurt your credit. Some issues associated with damaged credit are: not being able to buy another home, being turned down as an undesirable renter, being rejected for life insurance, getting car loans or credit cards at higher interest rates or only with a painfully high deposit and even being turned down for a job.Employers can and do legally check your credit report.

As you realize you are going to be late with a loan payment, talk with your lender to make the payment arrangements. They want to avoid foreclosure and will work to stop it as much as you do.

Maybe you can refinance make up payments and pay any late fees. Talk to a foreclosure mediation counselor to negotiate with your lender for a new payment plan to better meet your needs.

Please don’t feel embarrassed or uncomfortable about your current and unfortunate circumstances. Most everyone have had financial struggles.  Don’t give up on hope! Call now for a fresh start.


Create a valid solution after others have given up and quit. You see how the whole process is handled, communicating directly with your lender, and in many cases even postpone the bank sale.

Speaking their language. Forget the frustration in dealing with an unfamiliar process and getting lost in their system. Avoid further damage to your credit. Consider to negotiate with the lender and/or lien holders to release you from any Deficiency Judgement. The more damage done to your credit, the longer it will be until you can buy or rent another home or vital things you need.

Receive possible quick sale for your property and avoid real estate commissions or closing costs and can sell “as is” so no need to do repairs on property whatsoever. If you do nothing, the note holder can sell at public auction, with your house sold for 25% to 50% below value. After the sell, lender can legally hold you responsible to pay the difference! Inquiries are always kept confidential and with no obligation. Contact attorneys to give or render any legal advice or opinions. You are advised to seek legal and financial counsel as to any legal and financial implications before you act.


Advantages exist with possible charity donation if financial situation merits a way to deliver property to a tax exempt 501 (c) 3 non profit organization. Charity donations can lower your taxable rates and provide you possible relief.  Wellness Education Health Edification Foundation Inc, located in Orlando, Florida can assist you if you are interested in learning more on the subject.