STOPPING HOME FORECLOSURE
There are lots of people offering to stop home foreclosures. They will take your money as a fee to delay and stop the foreclosure process, but unless the mortgage company wants to work with them, there is nothing they can do.
So what can be done legally to stop home foreclosure? There are realistically only two things that can be done to stop foreclosure if the mortgage company elects to go forward with the foreclosure process:
1. A lawyer can file an injunction to stop the foreclosure process. And
2. You can file bankruptcy.
A lawyer can normally obtain a temporary injunction that will delay and slow the foreclosure process. However, this foreclosure relief is usually short lived. There are a limited number of tactics that a lawyer can use to enjoin the foreclosure process and they usually involve forcing the mortgage company to prove that it's paper work and foreclosure process were followed to the letter of the law. With recent mass foreclosure filings, this is not unrealistic and could occasionally produce a wrongful foreclosure process.
The temporary injunction will be set for follow up hearings where the mortgage company may be able to demonstrate that their foreclosure process was legitimate. At that time the judge will probably lift the injunction against foreclosure and the process will begin again. The time in between is meant to allow the home owner to find alternative financing or other means to bring the mortgage current.
If that is not possible, then the last option is to file bankruptcy. This will allow the home owner to negotiate terms with the mortgage company that will reset the payment process and this will prevent foreclosure.
Usually, the unpaid mortgage payments are added to the end of the loan and the home owner can start fresh again.
If you find yourself in this predicament in Texas, please feel free to contact my offices where I can assist in both foreclosure defenses.