Stay in your home to delay a foreclosure.

Many lawyers now have just two words for homeowners who may have received a foreclosure filing or are facing the foreclosure process. Stay put. Remain in your home to delay or stop the foreclosure.

The huge number of foreclosures across the nation has slowed down the legal system and courts, which is allowing homeowners to continue to live in their homes while the paperwork goes through the slowed down court system. Most homeowners do not realize that they can stay in their homes for many months while the foreclosure goes through the legal system and court process, foreclosure specialists and attorneys say.

How long can I delay a foreclosure filing?
Better yet, if you are a homeowners who is willing to challenge the foreclosure filing to try to prevent it or delay it further, you may be able to stay in your home for over a year, and there are now more common occurrences of families being able to keep their homes for up to two years just by filing a few basic legal documents with an attorney.

A legal challenge to foreclosure filing lets the homeowner save money for post-foreclosure life, if they end up losing their home. This is very important as ruined credit from a filing will make it harder to find a new place to live after they lose their home.

Behind on your mortgage? Don't Panic- Talk to us. Learn more about your options. We can help.

 

 

Lawyers also say their are more advantages to fighting the foreclosure filing, including making the legal process time-consuming and costly may push the bank or lender to find alternatives or offer you other options to the foreclosure like a loan modification or maybe go through with a short sale.

And the truth is that the attorneys for the banks and lenders hope that the owner does not bother to fight the foreclosure filing or try to stop the process. A big reason being that if a homeowner just walks away from the property without challenging it, attorneys for the banks will hardly spend any time in court and can retake the home in as little as 90 days.

Lawyers for the lenders have other a financial interest as well. Lenders will often pay law firms a flat fee for each foreclosure filing they process and every judgment they obtain, so they are tending to naturally focus on the easier foreclosure filing cases. What happens is that when a homeowner files paperwork that takes the foreclosure case out of the fast track to completion and send the process into the slower, traditional court, lender attorneys will usually seem to put the case aside as they do not want to be slowed down and spend extra time or money on it.

The site HomeClosureFighter (link below) has helped over 100,000 homeowners thru the foreclosure process by putting them in contact with specialists. The consultation from the specialist they will put you in contact with is free, so there is no risk to requesting information.

 

 

 

File a motion to delay the foreclosure
Also, work with a foreclosure attorney or specialist to file a motion, as any motion that requires the banks to produce information on your property or case can delay the filing for months as they try to produce this info. The more difficult the request you file for, the longer the delay in your foreclosure. You may ask, what is the going time lag for banks or lenders to respond to the homeowner when they asks to see some type of paperwork? It can slow down the process for up to six months.

Many attorney state the banks are very disorganized, and overall the system and process is set up to be advantageous to homeowners who fight the filing.

In addition, the more time it takes the lender to get that motion or judgment file, the more they think it will cost them in time and money, greater the chance the bank's attorney will realize an alternative solution, such as a loan modification, would be faster and cheaper for the bank.

And if you have done everything you can, but still are about to lose your home, once you appear to have lost the case, consider filing for bankruptcy as it will stop the foreclosure, typically for up to several months period of time. More on bankruptcy.

Use a foreclosure attorney
They can assist you through the process. Foreclosure defense attorneys can file motions, and even help with the basic documents that will by you additional months of living in a home. foreclosure lawyers and specialists can also usually take the case from you for a flat fee that could equal just one or two months' of your monthly mortgage payments, and not only can they help delay or stop the foreclosure filing, they can also just help you avoid the legal pitfalls that homeowners can fall into when trying to represent themselves through the process.