So there is a freeze on foreclosures in SOME states. One major lender has frozen them in all 50 states. Does that mean my foreclosure will be halted, and the bank is NEVER going to take my home? NO IT DOES NOT! What is happening can be a good thing for families, IF YOU TAKE THIS TIME TO MAKE A PLAN. Please do not sit, wait and watch. If you are behind on the payment, SAVE MONEY! Save everything you can! If you were doing a modification, BE REAL PERSISTENT, AND DO NOT GET FRUSTRATED and if the best alternative for you is a short sale, GET STARTED NOW!
I do know this, there will still be properties that slip through cracks and get foreclosed on during this "freeze." I also know when the freeze is lifted THOUSAND UPON THOUSANDS of properties will be rushed to sale. Lastly if you are behind in your payment, the time frame of the foreclosure process is NOT halted. Your timeline will continue, just the actual sale will be on hold IF your timeline is up while the freeze is on.
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