How can I stop a foreclosure from happening?

If you are a homeowner facing foreclosure in Virginia, there are several ways you can stop the foreclosure from happening: The first and most important step is to contact a housing counselor or foreclosure defense attorney. This expert will review your mortgage situation and help you explore all of your options, including possible foreclosure prevention alternatives such as a loan modification, or other legal strategies. You should also act quickly and contact your lender as soon as you know you may not be able to make your mortgage payment. Your lender may be willing to offer you a loan modification, forbearance or repayment plan which can help you catch up on your payments without having to go through the foreclosure process. Additionally, Virginia is one of the states that offers a Mortgage Mediation Program which can help homeowners reach an agreement with their lender without having to go to court. The program arranges a meeting between the borrower, the lender and a neutral mediator who can help both parties work towards an agreement on a payment schedule that the borrower can afford. Finally, if all else fails, you may be able to challenge the foreclosure in court. An experienced foreclosure defense attorney can help you file a motion with the court to stop the foreclosure from occurring. This may include claiming that the lender did not follow the necessary legal steps in the foreclosure process, or that the loan is invalid. No matter what strategy you choose, it is important to act quickly if you are facing foreclosure. Remember to contact a foreclosure defense attorney or housing counselor as soon as possible to discuss all of your options.

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How can I stop a foreclosure from happening?

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