Foreclosures Help Information

Stop Foreclosure Sale

Question: Stop Foreclosure Trustee Sale?

We have received a date for a trustee sale on our house. we are behind 6 onths and have talked with a attorney. He wants us to file a BK but our income is too high.( so is our mortgage)..
Anyway I have two questions..
1. Is there anyway to stop the tustee sale without using a attorney??
2. If we file a BK to stay in the house a few more months, will it show on our credit report if we dont do anything past the filing??
Thanks
Confused & Broke

Answer: John, the attorney's advise is most likely your only option due to your current financial situation.

If you had paid a small amount of your mortgage each month and at least spoke to the lender when they called, you might have staved off the foreclosure proceedings. Now there are only two ways to stop it, file BK or pay up.

Save my home from forclosure? Get a rate modification? Stop foreclosure sale.

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Nice Foreclosed Homes

Question: Did you buy a foreclosed home? If so, did you have to put alot into it regarding repairs?

My husband and I want to purchase a home in the next couple months. We are trying to repair a few things on our credit beforehand, under the advice of the mortgage company. Right now, they said they will pre-approve us for $100,000 after this is done.

Answer: This will vary by the home.

I have been in some foreclosure homes that were absolutely trashed. Anything the previous owners could remove, they did. HVAC system, hot water tank, plumbing fixtures, lighting, etc., etc..

But I have been in some really nice foreclosure homes that just need some cleaning.

I recently sold a foreclosure and stopped by to see how they were doing.. What a difference! The new owners took out the ugly turd brown carpet and replaced it with hardwood floors. The white living walls had a new coat of a tan color paint and the HUGE living room window had a lovely window treatment. They were tearing into the kitchen next, and it is looking fabulous. We had a house inspection done and it was squeaky clean, so everything they are doing is cosmetic changes, but the house looks SO much better. They saw the potential and are making it happen.

So, some of these homes might be a trainwreck, but some may just need TLC, and everything in between.

Why Pre-Foreclosures vs Foreclosed Homes

Stop Foreclosure Bank Of America

Question: how many months can you be behind on your mortgage?

I bank with Bank of America and was wondering how many months i could fall behind on my mortgage before they could start the foreclosure process and stop accepting additional payments from me? I have not gotten behind yet but was thinking of doing so to cushion my own account in these tough times.

Answer: Talk to the bank rather than 'voluntarily' defaulting on your mortgage.

Save Renee's House: Stop the Bank of America Foreclosure!