Interrupting a foreclosure
Question: Other than the obvious choices of bankruptcy and foreclosure, what might be done by the borrower to force postponement of a foreclosure sale?
Answer: 1) if a couple, have one party declare bankruptcy 2) attempt to renegotiate the loan 3) “sell” the property, and contact the lender to see if the lender will approve the assumption of the loan by the new purchasers 4) transfer the property to a straw buyer 5) do a chapter 13 bankruptcy 6) write a letter to the foreclosing attorney pointing out defiencies in the foreclosing process. 7) bid on the property at auction
i believe that your Internet access is Clarknet in Maryland, so the following are about foreclosures in MD:
In MD, more than 70% of the foreclosure auctions do not occur when first scheduled.
there are more, i assume that the property is in MD, but be aware that declaring bankruptcy does not mean losing your home-it might mean exactly the opposite.
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