How to Stop a Foreclosure Home Auction

If you are one amongst those who are waiting for their house, which is about to be auctioned and thousands of nearby people have assembled to purchase your property, do not feel that this is the end. Foreclosure has gone up by almost 57 percentages in the first six months of 2008.

One must always be sturdy and strong and never lose heart; foreclosure auction of your own does not mean the end. You always have a chance of stop foreclosure home auctioning.

The process takes some time

One of the biggest is understood thing is a bank foreclosure auction. Everyone believes that these steps are taken immediately once he receives the notice.

But this is not true, there is some time between issuing of the notice and auctioning the house, you can always do something useful in this meantime.

Even the law allows you a month time so that you can repay the money, you can find a buyer for your home rather than auctioning it.

In order to halt foreclosure process you can get help from housing and urban development. This organization has several councilors who work for free.

The councilors are paid directly by its association so that you don’t have to pay all out of your pocket. You can find the nearest HUD councilor by calling up 1-800-569-4287 or by visiting the website.

There are various things that a HUD councilor can suggest you. There are various rights that the house owner holds. The rights are generally unknown to many and these councilors can help you in knowing your rights.

They can also help you in finding out how to delay the home auction by suggesting recent years. Your bankers do not want to auction your home because it is equally difficult for them too.

Stay safe from scam artists

There are quite a number of scam artists who can assure you that they have the power to stop the foreclosure auction and they demand a large amount of money as compensation from your side.

These people are cheaters. They get the money from you and leave town immediately after you do so, finally you end up losing a large amount of money. Be sure that you do not fall prey to such people.

Don’t go for revenge

Even by all means, if all your efforts have gone in vain, do not take actions in anger. Do not attempt to take revenge on the bank by damaging your home or leaving dead animals at your property, or the worst-case do not plant any home-made bombs.

Such actions can make sure that you end up being jailed, if you have pets please make sure that you leave them in an animal shelter nearby.

One thing that you always have to remember is that the best way that you get out from a debt it is by selling your home, and sometimes the step can remove all your financial worries and make you a new and better man.

Always have positive thoughts and high hopes.

By Ricky Lim

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