Need Help To Stop Sherrif Sale
Hi everyone,
Due to a prolonged illness, I fell behind on my mortgage and it is up for sherriff sale Nov. 2003.
How do I go about stopping the sale and saving my house?
Thank you for your help.
LuckyLadyD
Need to know about the state in which the property is in, and what you would do if the sale could be stopped? Can you afford to make the payments if the loan were to be reinstated? Had you consulted with a bankruptcy attorney regarding a Chapter 13? Have you exhausted all nonforeclosure options and alternatives with your foreclosing mortgagee?
The property is in PA. I now have the means to catch up on the back payments and continue to make the monthly payments. I haven't consulted an attorney as money is tight and I can't afford one at this time.
Talk with the lender immediately, and tell them you can make up the amount you owe. If you can make up back payments immediately, do so.
Good Luck!
There are only 3 ways to legally stop a foreclosure sale:
1. By agreeemnt with the lender, it will hold off foreclosing for an agreed period to see if you do catch up.
2. By filing a Ch 7 or 13, and that only stops it for a few weeks, before th lender files a motion to lift the BK stay and it will then proceed to foreclose.
3. By filing a court petitiion asking the court to issue an injunction or stay against the foreclosure, on the basis of lender fraud of some other very good legal excuse why the foreclosure should not immediately proceed. Very rarely is this done, as a bond is required to even ask for an injunction.
You say you have the means to bring the delinquent payments and associated fees current?
The lender will welcome you with open arms. You can pay it all up front which is the most attractive means for the lender. You may be able to pay half the amount owed and the other half added to the back end of the loan. You may be able to make up the arrearages over a perior of 6-9 months with increased payments over that interval and then the payments revert to the original amount.
There are several variations.
You should contact the lender now. These things generally take time. You need to have some sort of agreement in writing as soon as possible.
Thanks to all who responded to my problem. I acted on the advise given, contacted the lender, entered into an agreement and stopped the foreclosure.
I fell a lot better now and am on the right road to keeping my house.
Sincerely,