FORECLOSURE - The Reinstatement Period

By
Real Estate Agent with "Lisa The Broker" California 01424711

 

If your home is in foreclosure for being behind in your monthly payments, you have the right to reinstate your loan upto 5 business days before the date that it is scheduled for the sale.  If the sale is postponed, your right for reinstatement is extended to 5 business days before the new sale date.

In order to reinstate the loan you must bring all back payments current and pay all costs, fees and penalties attached to the loan.  The loan balance does not have to be paid in full.  After reinstatement, the foreclosure process is stopped and the trustor resumes making their regular payments.

Posted by

Lisa Marie Flenoury, Broker

CENTURY 21 UNION REALTY

(310) 766-0964

Lisa@LisaFlenoury.com

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Rainmaker
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Chuck Willman UtahHomes.me
Utah Homes - Alpine, UT
Utah Homes

Very good information to know... the foreclosure world is such a mystery to so many.

Jun 22, 2008 05:15 AM #1
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Rainer
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Lisa Marie Flenoury

"Lisa The Broker" - Making Dreams Come True
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