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Sale Date Too Late

If you are involved in a foreclosure and you lose your case at a hearing on a Motion for Summary Judgment or at Trial, you will get a sale date. Your sale date will range any where between 30 days and 120 days. Many times, clients do absolutely nothing until they get notice of a sale date. At that point, they come to us for help and want us to miraculously save their home.

Fortunately for them, I consider myself to be something of a miracle worker when it comes to cancelling foreclosure sale dates. For most of my clients, there are still a host of options available to them to save their home even after they receive a Final Judgment of Foreclosure.

You are not prevented from applying for a loan modification after Final Judgment is entered. A loan modification is designed to permanently modify the terms of your original loan. Depending on your modification terms, it can change your monthly payment, interest rate, principal balance, or length of repayment. Your outstanding balance of missed payments and fees are usually placed on the back end of your new mortgage. Consequently, you will no longer be considered in default and the lender will dismiss the foreclosure action against you.

I have been successful in cancelling foreclosure sales based on my clients pursuing modification, short sales, or other type of loss mitigation efforts. Another option is filing for Chapter 13 Bankruptcy which automatically stops the Lender from going forward with the sale. Chapter 13 Bankruptcy allows you to catch up on your mortgage arrears through a repayment plan.

Just because you have an approaching sale date looming over your head is no reason to throw in the towel. Contact an experienced Foreclosure today to discuss your options.