Talk To The Bank And Stop Foreclosure In Bergen County
Avoiding foreclosure is not as easy as prioritizing bills as the current economic state makes it difficult for homeowners to keep up with their mortgage payments. Succumbing to foreclosure can be a very daunting prospect and it can also haunt you for a very long time. One of the biggest problems that mortgagees have in a financial reversal situation when facing default is not knowing who to talk to, but the good news is there are methods to stop foreclosure in bergen county.
These methods can give you enough time to get back on your feet through manageable payment arrangements with the bank or discuss the short sale option of your home with a real estate investor. Stopping or even delaying the foreclosure process is so difficult not to mention frustrating even for seasoned real estate investors. One of the problems with not talking to your lender is that they may assume that you are simply succumbing to foreclosure, so be in constant communication with them to prevent this. Your efforts of communicating with the loan officer will be rewarded by allowing you more options not normally extended to those who do not make their intentions clear with the bank.
Conversely, if you did not communicate and work out an arrangement with the bank, your property may be up for auction sooner than you think. Keep in mind to do the steps necessary to stop foreclosure in bergen county well before the planned auction date so you can effectively prevent or delay the sale. However, a couple of weeks just won't cut it if you plan to short sale your property, as this process involves time-consuming negotiations and data and foreclosure information gathering. The loan officers at the bank will not be forced to foreclose as long as you try your very best to keep up with the mortgage even with just marginal payments.
Should you be close to foreclosure you can probably put this off a little bit longer by letting the bank know that you are trying to put together a short sale. This information alone may be enough to get you another 30 days extension. Partial payments may not cut it for all cases as some banks will only stop or delay foreclosure upon receipt of complete mortgage payments. If you are ever faced in this situation, explore other housing or financial options.
It would be a good idea to send a copy of the extension notice, if possible hand carry it, to the attorney handling the foreclosure process so you can guarantee yourself an extension. Call that attorney to make sure they've gotten the fax. Once you get confirmation from the attorney handling the foreclosure, also confirm with the auction house that the extension is honored and your property is not up for auction. Or you can do this by requesting a copy of the current auction list so you can check for yourself.
With the steps mentioned here, you can now delay or stop foreclosure in bergen county process and stay in your home. These methods may be effective for most, but there can still be cases in which these doesn't apply. Your greatest success can come through staying in touch with the mortgage company from the moment you miss one payment and calling as early as possible to request a foreclosure extension.
These methods can give you enough time to get back on your feet through manageable payment arrangements with the bank or discuss the short sale option of your home with a real estate investor. Stopping or even delaying the foreclosure process is so difficult not to mention frustrating even for seasoned real estate investors. One of the problems with not talking to your lender is that they may assume that you are simply succumbing to foreclosure, so be in constant communication with them to prevent this. Your efforts of communicating with the loan officer will be rewarded by allowing you more options not normally extended to those who do not make their intentions clear with the bank.
Conversely, if you did not communicate and work out an arrangement with the bank, your property may be up for auction sooner than you think. Keep in mind to do the steps necessary to stop foreclosure in bergen county well before the planned auction date so you can effectively prevent or delay the sale. However, a couple of weeks just won't cut it if you plan to short sale your property, as this process involves time-consuming negotiations and data and foreclosure information gathering. The loan officers at the bank will not be forced to foreclose as long as you try your very best to keep up with the mortgage even with just marginal payments.
Should you be close to foreclosure you can probably put this off a little bit longer by letting the bank know that you are trying to put together a short sale. This information alone may be enough to get you another 30 days extension. Partial payments may not cut it for all cases as some banks will only stop or delay foreclosure upon receipt of complete mortgage payments. If you are ever faced in this situation, explore other housing or financial options.
It would be a good idea to send a copy of the extension notice, if possible hand carry it, to the attorney handling the foreclosure process so you can guarantee yourself an extension. Call that attorney to make sure they've gotten the fax. Once you get confirmation from the attorney handling the foreclosure, also confirm with the auction house that the extension is honored and your property is not up for auction. Or you can do this by requesting a copy of the current auction list so you can check for yourself.
With the steps mentioned here, you can now delay or stop foreclosure in bergen county process and stay in your home. These methods may be effective for most, but there can still be cases in which these doesn't apply. Your greatest success can come through staying in touch with the mortgage company from the moment you miss one payment and calling as early as possible to request a foreclosure extension.
About the Author:
To find out more about this subject and for tips and strategies to stop foreclosure in bergen county now and stay in your home, go to my website.