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Best Way to Stop a Foreclosure

Preventingforeclosure.org provides a quick and comprehensive three-step guide to help homeowners decide on the right solution for challenging a foreclosure. If you have already chosen how to fight your foreclosure, this website also provides sophisticated measures to help you move forward.

Watch the companion video showing you how to stop a foreclosure fast: http://www.viddler.com/explore/PForeclosure/videos/1/

The 3 fundamental steps to coming up with the most desirable answer to your particular situation are:

Step 1: Do a personal assessment to understand where you stand in the foreclosure process and to break down what your personal finances looks like.
Step 2: Study all the alternatives to see which ones are best for your situation.
Step 3: Determine how to move forward on your options, whether it requires help or it can be done solo.

Personal Assessment

In step 1, we help you inspect your personal situation and discuss some outside influences that could sway which solutions are available you.

The critical external factor that can influence your options is where you stand in the foreclosure process. To assist you to figure this out we have introduced a timeline for the average California foreclosure. A link to this is accessible under item 2 or in the footer navigation menu under “California Foreclosure Basics.”

Officially the California foreclosure process floats at around 233 days. Studying the timeline will help you in accomplishing Step One so that you can get a greater fee of where you are personally and therefore attain some clarity to assist you choose an option in Step 2. Alternatively, if you are hasty and begin looking at your options in Step Two first you might pick a solution that doesn’t apply to the characteristics of your personal circumstances, like attempting to sue your bank but you do not have the finances for a lawyer and you are looking at a foreclosure sale date in two days. That just doesn’t hold water. So before we look outward at our options, we have to gaze inward at where we stand.

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By the time you are done mastering the California foreclosure process timeline, go back to Step 1. You can conveniently do so by going down to the end of the page and clicking on “How to Stop a Foreclosure – Step 1.”

Wrap up reading from beginning to end the information and make sure to complete the worksheets where it asks you to, such as preparing a budget. Striving to follow the steps in Step One will help you gain control of your situation.

Once you’ve finished Step One, you are set to jump into the options that can bring some relief to your looming foreclosure.

Examining the Choices Available

Step Two lets you to investigate the several alternatives that will aid you challenge a foreclosure. All options are addressed, embracing loan workout agreements such as loan mods, legal claims and (Chapter 7 and 13|Chapter 13 and 7} bankruptcies are considered, and we also examine sales, both short sales and regular, besides a few others.

Step 2 gives you a primer to the available options to help you get situated in what can be an upsetting situation, and you can obtain additional details for each solution under our section labeled “How to Stop a Foreclosure.” If you inspect this list you will recognize that every solution is covered independently in more detail, plus a few supplementary options that are applicable to certain individuals, such as seniors and active servicemembers or veterans.

Once you’ve looked at the alternatives that can salvage your home from foreclosure, you may be confused about how to proceed and take action. Even if you do realize how to proceed, you might be asking yourself who can I rely upon for relief. For that, we go onto Step #3.

Scoring Sound Help

Step 3 helps you settle on what the most desirable way is to take action. We provide five factors to consider to help you reach a decision.

No matter where you turn for help, we firmly encourage you to get professional assistance. Foreclosures are convoluted situations concerning many points and generally you’d want someone with experience counseling you to make certain that you are exercising all of your legal rights and that you aren’t being abused, because that seems to be common these days.

In each step that we’ve explained up until now and on every page you will recognize a section at the bottom that says “More Information.” In this place, we offer additional resources, a few within our own site and a portion that lead to other authoritative and relevant resources online. At the bottom of the page for Step 3, you will encounter links to “Where to turn for help” which offer you with details on how to reach non-profit housing counselors plus private organizations, attorneys and real estate agents, depending on what your needs are.

Under this “More Information” you will also recognize a link to “Foreclosure Rights, Laws that Protect You” so that you can determine what legal refuge exist for people facing foreclosure.

This finishes our brief introduction on how to work with the three step guide to discovering a way to stopping your foreclosure.

A pseudo non-practicing attorney but fully practicing human being. With experience in law and real estate, Mike Olivarez is the author of this article.

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