Pay The Amount You Owe
Some persons will default as a result of bad advice (from a lawyer or otherwise) or stubbornness on a problem.
The most cost-effective strategy to avoid a foreclosure or trustee’s sale is to pay the whole amount due, including past payments, late fees, penalties, and trustee fees, before the Trustee’s Sale date. Don’t assume that everyone is in default because they can’t afford to pay their bills on time. If you want to save your home and have the means, it’s usually advisable to pay them and then go to court to resolve the concerns.
Request the “reinstatement” amount in writing, and keep a copy for your records.
Reinstatement: Send the full amount to the lender by certified mail with return receipt requested (arranged at the Post Office) so you can confirm that you sent the money and that the lender got it. BE SURE TO HAVE IN WRITING FROM THE LENDER AND TRUSTEE THAT THE TRUSTEE’S SALE HAS BEEN CANCELLED IF YOU PAY ALL THAT YOU OWE. If you’re having problems getting the lender to inform you the exact amount due on the date you’ll be able to pay it, hire a lawyer.
Diane is a well respected Arizona bankruptcy and foreclosure attorney. As a retired law professor, she believes in offering everyone, not just her clients, advice about bankruptcy and Arizona foreclosure laws. Diane is also a mentor to hundreds of Arizona attorneys.
*Important Note from Diane: Everything on this web site is offered for educational purposes only and not intended to provide legal advice, nor create an attorney client relationship between you, me, or the author of any article. Information in this web site should not be used as a substitute for competent legal advice from an attorney familiar with your personal circumstances and licensed to practice law in your state. Make sure to check out their reviews.*
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