How many times can a foreclosure be postponed?

Home owners can postpone the foreclosure sale of their homes. Postponing foreclosure sale gives homeowners time to find solutions for paying their outstanding mortgages or sell their homes. There are different reasons why foreclosures can be postponed.

• To dispute the filing
• To file for bankruptcy
• Communicating with lender to get more time

Foreclosure filing is a lawsuit and therefore if you know how to challenge it you can benefit. Homeowners can postpone their sale date multiple times. There are different strategies that homeowner can use to postpone the foreclosure sale date. You need the help of Mortgage Audit Online attorneys to help you.

Homeowners can ask simply ask the lenders to have the sale date delayed. Call your lender and ask them to postpone the sale date.

Tips to Postpone Foreclosure Sale

Litigation can help postpone the sale date. In this case, if you decide to sue your lender, the court will prevent the foreclosure of your home while the lawsuit is ongoing. If you don’t win the foreclosure process progresses.

If your mortgage payment deficit is more than the current value of your home, you can consider a short sale. In this case, the lender agrees to repossess the house and forgive the additional balances. However, the lender should prove that they are not in a position to pay the outstanding loan balance.

If your foreclosure date has been set, you can stop the foreclosure by filing for bankruptcy. Once the filing has been made, an automatic stay is enforced, which puts the foreclosure on hold during the bankruptcy process.

To determine the option, you should take and how many times you can postpone your foreclosure sale date, you should contact a foreclosure attorney who will help you come up with the best choices.