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Should I Have A Stop Foreclosure Sale?

Sell your home before foreclosure auction

A stop foreclosure sale, is basically selling your home before your property is sent to public auction. Stop foreclosure sales are the best option approximately 50-70% of the time. More often than not the foreclosure process is started by you falling behind on one or more of your debts related to your mortgage.

Normally, when people fall behind on their most precious asset it is because they are having financial troubles, and only a transfusion of money can save them from being foreclosed upon. Contrary to popular belief, getting a loan against your property after foreclosure has been started is very difficult if not impossible for most people. I have heard of a couple of high risk lenders, but honestly do not know enough about them to recommend them. What I can tell you about these loans is that they are considered "High Risk", and the terms of these loans may only worsen your financial situation; but on the bright side they may buy you enough time to help you stop foreclosure. If you consider a high risk loan to help avoid foreclosure, make certain that there is no early pay off penalty, as in most cases this type of loan will or should only be a temporary solution to your foreclosure problem. Assuming you are able to get a loan and stop foreclosure, you should seriously consider selling your property, take whatever equity you may have and re-adjust your lifestyle to meet your current financial situation. Please see How to stop foreclosure for options related to working with your lender and not an outside bank.

If you are unable to get a loan or transfusion of money, then your best option is to have a stop foreclosure sale of your home. If you act quick you will have more options than if you wait until the last minute to try to avoid foreclosure. If you have more than 2 months until your property is scheduled to go before public auction you can try to sell your home yourself using a realtor; 'DO NOT' attempt to sell your property "For Sale By Owner" (FSBO). If you have less than 2 months until the auction, then contact us by submitting your Property's Information.

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