How to Stop Foreclosure Legally

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In order to legally stop a foreclosure, a person may choose to lower their interest rate or extend the term of the mortgage. Contact an alternative lender if the conventional lender is not interested in renegotiating with help from a civil mediator in this free video on foreclosure law.

Part of the Video Series: Foreclosure Help
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Video Transcript

Recently you like many many millions of Americans unfortunately had had difficulty making your mortgage payment. And now you're faced with the dreadful prospect that the lender is going to institute foreclosure proceedings against you. Hello, I'm Robert Todd and I'm here to answer the question "How to stop foreclosure proceedings against you legally?" Again, perhaps the best way is to pay your mortgage on time. But, if you are in a position where you can't do that or you have already fallen behind, you may want to consider contacting your lender directly to see if they will consider renegotiating the terms and conditions of your mortgage. Two obvious examples of doing that would be either to lower your interest rate or to extend the term of the mortgage. Either way is going to bring down your monthly mortgage payment. If your lender is not interested in doing either one of those things you may consider contacting an alternative lender. The alternative lender would then consider refinancing your property. And with the refinancing proceeds you would pay off the existing mortgage. Obviously if you pay off the existing mortgage you stop any possibility of foreclosure. I'm Robert Todd and thank you for watching.


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