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First Team Property Solutions 

"SAVE OR SELL YOUR HOME, WE CAN HELP" 
 

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How can a foreclosure sale be stopped?

  1. Reinstate. Most mortgage companies will stop a foreclosure if you pay the missed payments, attorney fees, and foreclosure costs. Be sure to get written confirmation that the scheduled foreclosure is cancelled.

  2. Work out a payment plan or loan modification. A loan modification may restructure the loan into a more affordable payment (such as by reducing the interest rate, extending the length of the loan).  Be sure to get written confirmation that the scheduled foreclosure sale is cancelled.

  3. Sell the home. Hire an experienced, licensed real estate agent, sell your home, and pay off your mortgage in full, before the scheduled foreclosure.

  4. Do a short sale or deed in lieu of foreclosure. Consider this option when you have no equity in your home (when the value of your home is worth less than what you owe on it). Beware of the potential income tax problem or deficiency (in other words, you may owe income taxes on the forgiven amount or could be sued for the remaining loan amount).

  5. File bankruptcy. Retain a lawyer and file bankruptcy before the foreclosure sale, and notify the foreclosure lawyer of the bankruptcy filing.

  6. File a lawsuit and obtain a temporary restraining order (TRO) from the court to stop the scheduled foreclosure sale. You will need to show the court a viable legal basis (for example, the loan is not delinquent or violation of foreclosure notice requirements) for the TRO.  Retain a lawyer to represent you in court.

WHO WE ARE

At First Team Property Solutions, we are dedicated to providing top-quality property management services and real estate assistance. Our team of experts is committed to building lasting relationships with our clients, and we believe that everyone deserves the highest level of service. Contact us today to learn more about what we can do for you.

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Customer Testimonies 

Get to Know Us

OUR SERVICES

Mortgage Reinstatement 

Loan Modification 

Probate / Notary 

Home Purchasing with Lease Back Option 

Property Inspections / Appraisals 

Lien and Deed Search 

Veteran Owned and Operated 

123-456-7890

500 Terry Francine Street, San Francisco, CA 94158

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