Avoiding Foreclosure
In avoiding foreclosure the owner of real property must take certain actions governed by state foreclosure laws. Many of these laws are procedural and if followed properly can help a person in avoiding foreclosure. The foreclosure process can be lengthy. Many times, a foreclosure is started by a lender, but then a successful negotiation takes place which helps the owner of property in avoiding some of the damages or other financial distress relating to the foreclosure. A qualified attorney can provide very practical assistance to a person in avoiding foreclosure, both by negotiating with the lender and by extending the process by understanding the law and procedure.
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- Alabama
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- District of Columbia
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- Hawaii
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- Illinois
- Indiana
- Iowa
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- Kentucky
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- Nevada
- New Hampshire
- New Jersey
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- New York
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- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
Frequently Asked Questions
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What is a 'short sale'?
A “short sale” is an option for a homeowner to avoid foreclosure when they can no longer afford the mortgage on the home. In a short sale, a servicer allows the borrower to … more -
How long do I have to try to sell my house as a 'short sale'?
it depends on your lender's requirements and whether you qualify for any special government sponsored programs helping homeowners avoid foreclosure. For instance, under the … more -
Can any property be sold as a 'short sale'?
typically, if there are any junior liens, mortgages or other debts against the property, those must be cleared first before the property can be sold as a short sale. The servicer can … more
Legal Articles
- A Plain Language Explanation of Your Options for Avoiding Foreclosure
Whether you're in foreclosure now or worried about it in the future, understand that there may be practical ways you can avoid foreclosure. Today, lenders are more willing than perhaps they have ever been to help you stay in your home and be able to afford your payments. The most common methods used to bring loans current are described below: Bring Your Loan Current - … more - How To Avoid Foreclosure
Are you facing foreclosure? More and more people are finding themselves in the difficult and unfortunate position of anticipating foreclosure of their homes. However, there may be alternatives to foreclosure. The options may vary depending upon your situation and you should contact your lender to explore those options sooner rather than later. The good news is that … more
Legal Guides
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Deed-In-Lieu of Foreclosure Fact Sheet (HUD)
Thhis fact sheet from the Department of Housing and Urban Development explains the Deed-in-Lieu … more -
Mortgage Payments Sending You Reeling? Here's What to Do...
This publication from the Federal Trade Comission discusses how you might be able to save your … more
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