As the number of foreclosures in the Houston area continues to climb, many homeowners find themselves grasping for any means possible to avoid this process. It is important for homeowners to realize that there is only one way to effectively stop a foreclosure proceeding in Houston. Ultimately, the only real answer is the eventual repayment of the loan. Everything else amounts to nothing more than a delay in proceedings. Delays, however, can buy homeowners the time they need to set things straight.

Some of the best means to stop a foreclosure proceeding in Houston or elsewhere include:

?Negotiated repayment of debt in arrears. When Houston area homeowners take the right steps to work directly with their lenders, they will often find this option is available to them. The back payments will be broken up over the course of several months to make repayment feasible. Another option might involve moving the late payments to the end of the loan.

?Sale of the home. This, ultimately, results in the repayment of the loan and can stop a foreclosure proceeding in its tracks. Many homeowners find straight sales and even lender-negotiated short sales work well to set things straight.

?Negotiation of new terms with lender. In some cases, lenders are willing to work with borrowers to stop a foreclosure proceeding in Houston through this means. This might involve the creation of a new mortgage with altered terms that are more reasonable for a homeowner to handle. Some lenders have specialized hardship programs that make this possible despite previous problems with making mortgage payments.

?Refinancing. If working with the present lender does not work, some homeowners find they can avoid foreclosure by refinancing elsewhere. The time clock on this option is tight, however. It is very hard to refinance if credit has already been damaged by multiple late payments.

There are ways to stop a foreclosure proceeding in Houston, but the only permanent way is to pay off the loan one way or another. Fortunately, homeowners will find there are effective options available to them if they take the time and effort to pursue them.

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