Are you trying to Stop a Foreclosure on your home?

Trying to Stop a Foreclosure on your home can be a daunting and formidable task.

Most people start out by contacting their lender for a loan modification to stop a foreclosure proceedings. Next they try to stop a foreclosure thru the short sale process or by trying to get a pre-appproval for a short sale from their lender.

Quite frequently a home owner will be told verbally by the lender’s representative that foreclosure proceedings will be halted and they need not worry about it. Since the homeowner is led to believe that the lender’s word is to be trusted, many hang up the phone feeling a sense of relief that might be totally unrealistic - resulting in devastating, unexpected consequences.

Most credit agreements need to be in writing in order to be enforceable.  If your lender agrees to stop a foreclosure proceeding then it has to be agreed to in writing by all the parties to that agreement.

Denver Short Sale Agents

If your lender has agreed to a loan modification, then those mutually agreed upon terms, have to be in writing in order to be enforced by the laws of the state.

Many lenders don’t give a copy of the final signed agreement to the homeowner for months after a loan modification. The homeowner should get the agreement in writing as soon as the lender has signed the documentation. Many homeowners are left in the dark – not knowing what has really been agreed to – and giving up their legal rights waiting on the lender to comply.

Stop a foreclosure?  The real bottom line? Get it in writing – and get your copy right away in order to prevent too much time from going by before you might discover that what you thought you agreed to – isn’t in writing after all.

Trying to stop a foreclosure will be successful once you have that agreement in your hand – so if the bank ignores the agreement and moves forward to foreclose on you ( as they have done millions of times in the recent past)  - you  will have an agreement to show a judge and the agreement will be enforced on your behalf.  This process is the best one to stop foreclosure – no matter which route you decide is best for your future. Choosing to pursue a loan modification or the short sale process will be much easier once you have that written agreement in your hand stating the lender will not proceed with the foreclosure process during the interim period it takes to get the loan modification or short sale completed.