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You may want to consider contacting an attorney to pursue a Temporary Restraining Order (TRO) where you will ask a Judge to temporarily stop the foreclosure of your home while you try to figure out a way to keep your property.
Another alternative is to contact the mortgage company directly to see if they will pull and repost your property to another forelcosure date in the future, which will give you more time to figure out how to save your home without the expense of hiring an attorney and going to Court seeking a TRO.
If you have a little time before the foreclosure sale you can consider one of the following options:
a. Special Forbearance: Often referred to as a "work-out plan", this option is a repayment plan based upon your current financial situation and may even provide for a temporary reduction or suspension of your payments.
b. Mortgage Modification: Your lender may allow you to restructure the debt and extend the term of your mortgage loan.
c. Partial Claim: Your lender may be able to work with you to obtain an interest-free loan from HUD to bring your mortgage current, if certain qualifications are met.
d. Project HOPE: By calling 1-888-995-4673, you may find that you qualify for an FHA federal refinance program.
The key for you at this time is to remain in contact with your mortgage company. As a last resort, if you are being forced into a foreclosure and are unable to save your home you can consider contacting your mortgage company about a Deed in Lieu of foreclosure. This is an alternative that will allow you, the homeowner, to simply give the property back to the lender and be able to leave the property behind without having a foreclosure on your credit. You will have to request this alternative. Most mortgage companies are not going to voluntarily let you know this option exists. The only downside with this alternative is that the mortgage company must be in agreement in order to execute the deed in lieu of foreclosure.
I hope you found this information helpful.
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