| At every point in the foreclosure process you | | | | sure you call them a few days after you request |
| have an opportunity to stop a foreclosure sale on | | | | this amount. |
| your home. You simply have to know what your | | | | 3. Is your bank willing to work with you to stop a |
| options are and be prepared to take whatever | | | | foreclosure sale on your home? Unfortunately, the |
| steps are necessary in order to save your home. | | | | answer to this question may be no. It will depend |
| More than likely this will mean doing things that | | | | on your bank and it will depend on your financial |
| make you feel uncomfortable. | | | | situation as well. The bank may not be able to |
| If you want to stop a foreclosure sale on your | | | | workout an arrangement with you if your financial |
| home, you first need to gather some facts. | | | | situation has permanently changed. |
| 1. When is the sheriff's sale date set for your | | | | The answers to the above questions will |
| home? You should have received legal | | | | determine what course of action is the best one |
| documentation from your bank's lawyers that tells | | | | for you in order to stop a foreclosure sale of |
| you this information. The legal paperwork I | | | | your home, especially the answers to 2 and 3. If |
| received that had this date on it was called a | | | | the bank is not willing to do a workout |
| Combined Notice of Sale and Right to Cure and | | | | arrangement with you, that may mean you need |
| Redeem. Under the Notice of Sale section was | | | | to come up with the money to reinstate the loan. |
| the information on when the sale date was going | | | | And here is where you need to decide how far |
| to occur. | | | | you are willing to go to save your home. |
| 2. How much money do you currently owe the | | | | If your bank is willing to do a workout |
| bank? Simply adding up the payments that you | | | | arrangement with you, chances are good that |
| owe the mortgage company is not going to tell | | | | you will need to come up with a fairly healthy |
| you this. The bank has tacked on late fees, legal | | | | sum of money upfront. Because if your home has |
| fees and possibly other fees as well. You can find | | | | gotten to point where a sale date has been |
| out how much you owe by asking the bank what | | | | scheduled, you are already in deep. If you want |
| your loan reinstatement amount is. It will probably | | | | to stop a foreclosure sale of your home, you are |
| take them a few days to get back to you on this | | | | going to need to find a way to come up with |
| and chances are good that they will not even call | | | | whatever is needed to save it. |
| you back once they have the numbers so make | | | | |