Once the foreclosure process starts is there anything I can do to stop it?

Yes. Options including refinancing your loan, selling your house or modification of the existing mortgage may all be available. However, the longer you wait to take action; some of these options will become unavailable. Time is of the essence, especially if you would like to retain your home.

It is never too late to seek out an alternative to foreclosure as long as you are still within your redemption period. You have not lost until you decide the fight is over. Even after a foreclosure, even after an eviction, you still have as much right to buy your house back in the open market as anyone else. Realistically, if you have not been able to save the house before a sheriff evicts you, chances are strong you will never be able to structure a deal to buy the house back.

Your chances of remaining in the home, or at least salvaging your credit record, can be increased by contracting a professional that specializes in negotiating with mortgage lenders.

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