How to Move a Foreclosure Date
If you have a specified foreclosure date for your property, you will need to act quickly if you want to delay the foreclosure and prevent the loss of your home. In most instances, you have gone past the three-month waiting period and you will have less than four weeks to act.
Other People Are Reading
Instructions
-
-
1
Call your lender and ask him if he can delay your sale date. Explain your situation and request as much additional time as you need. Lenders will typically extend the date by one or two weeks.
-
2
Apply for a loan modification with your lender. If approved, your lender may lower your interest rate, which will lower your payment. He may also add any past due balance to the principal, and he may increase the term of your loan.
-
-
3
Call a local real estate agent and request a market evaluation on your home. Call your lender and ask him if he will consider a "short-sale." A short-sale will let you to sell your home for less than what you owe your lender. This will allow you to stay in your home while it is for sale. Tell your lender what the market evaluation value was, so that a starting sale price can be determined.
-
4
Contact a bankruptcy attorney and consider filing for bankruptcy protection. This will stop the foreclosure and give you additional time.
-
1
Tips & Warnings
You should contact your lender as soon as you know you will be unable to pay your mortgage. Do not wait until a foreclosure action has started.
