Posted on: 24th Feb, 2007 08:57 am
Post Your detailed question here.Can i stop his foreclosures if i can make up his balance before sales occured or what should i do?
Greetings cedsolon,
I'm not sure I fully understand your question.
Are you saying you have a Land Contract and the owner of the property has gone into default?
If so, I would check your state laws before doing anything. But most states do have laws that allow you to protect your equitable interest.
And YES, in most cases a foreclosure can be stopped if the arrearage is brought current. But again, foreclosure laws are state specific.
However, I would NOT just make up his balance until you know what your lawful rights really are. And then, I would probably contact a real estate attorney before doing anything.
If this is not your situation, please provide more details.
8)
I'm not sure I fully understand your question.
Are you saying you have a Land Contract and the owner of the property has gone into default?
If so, I would check your state laws before doing anything. But most states do have laws that allow you to protect your equitable interest.
And YES, in most cases a foreclosure can be stopped if the arrearage is brought current. But again, foreclosure laws are state specific.
However, I would NOT just make up his balance until you know what your lawful rights really are. And then, I would probably contact a real estate attorney before doing anything.
If this is not your situation, please provide more details.
8)
Cedsolon, you should get in touch with the lender and discuss the possibility to foreclosure being stopped if make up the due balance. In my opinion the lender would to any such proposal to avoid foreclosing as it is a time consuming and costly process for him also.
