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.
By Site Producer|Published On: August 11th, 2022|Last Updated: August 11th, 2022|
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