Foreclosure sale date postponed

Homeowners face foreclosures, and if they know their rights, they are able to slow delay and postpone the foreclosure sale date. Postponing a foreclosure sale date means gives homeowners time to look for alternatives and figure out a long term solution to help you prevent future foreclosures. In some states, Non-judicial foreclosures move so fast that homeowners can lose their homes in about 30 days. In other states, the process takes a few months. To find out how a foreclosure will take talk to a Mortgage Audit Online Attorneys.

You may postpone the foreclosure sale date by challenging it in court. You should have a valid and legal defense. Lenders make mistakes when it comes to the foreclosure process. Lenders may make mistakes such as

Not sending the breach letter required by the loan contract

• Fail to follow the mortgage servicing laws
• Improper notice of the foreclosure as stated by law
• Fail to provide the original documents
• Apply for loss mitigation

The homeowner can submit a loss mitigation application during the 120-day waiting period. If the owner submits a completed application before the servicer starts the state foreclosure process, the servicer cannot foreclose until the following occurs:

• the borrower doesn’t qualify for, or rejects, the lender’s loss mitigation options, or
• the borrower accepts a loss mitigation offer but fails to fulfill its requirements.

Filing for Chapter 7 bankruptcy will delay the foreclosure. You can use chapter 7 bankruptcy to save your home if your mortgage payments are up to date or don’t have much equity. If you want to keep your home, chapter 13, bankruptcy is a good choice. Chapter 13 bankruptcy allows the homeowner to reorganize their debts so that they can pay their loans at a convenient time.