If you are facing foreclosure on your house, the worse thing you can do about your situation is to ignore it. You need to know how to legally stop a foreclosure. That includes your legal rights and the legalities your lender must follow also.

It's time to take action and learn how to legally stop a foreclosure. Time is your worse enemy and your best friend is knowledge. Learn how to legaly stop a foreclosure.

• Is the entity bringing the foreclosure action the lender on the deed of trust?
  
• Did you plead your case in court to fight the foreclosure, perhaps arguing a hardship situation, e.g., medical illness, loss of income/job?
  
• Did the legitimate lender notify you of the Order Authorizing Sale hearing? You must be notified of this hearing before the public trustee can sell your home.
  
• Did you file the Intent to Cure fifteen days before the foreclosure? Perhaps you can bring the loan current before the public trustee sale date.
  
• In most states you have up to 75 days, after the foreclosure sale, to pay off the loan completely because the deed is still in your name.
  

An excellent source of information on how to legally stop a foreclosure is The National Housing Alliance. It provides a publication developed in accordance to rules and regulations of the Fannie Mae identifying your rights how to legally stop foreclosure action.

How to legally stop a foreclosure action. All legitimate advice recommends first and foremost that you talk to the lender. Believe it or not the lender doesn't want to foreclose, doesn't want your property. Your servicing agent is required by the lender to offer you a delinquency or foreclosure solution how to legaly stop a foreclosure, which may include the following:

• Negotiate new payments with the past due amounts included.
  
• Make up the payments over a period of months without a new loan.
  
• Negotiate a reduced interest rate on your current loan.
  
• Negotiate suspension of your mortgage payment up to 24 months, is a commonly accepted foreclosure solution approved by most lenders.
  
• If you can prove hardship, the lender may even consider forgiveness on the delinquent interest, which is a valid method how to legaly stop a foreclosure.
  
• VA or FHA loan government solutions are especially liberal. If you are on active duty with the United States armed forces you have judicial protection to help how to legally stop a foreclosure.
  

Refinance and 2nd mortgages: You may have to pay higher interest rates and loan fees, but if you have more than 75% equity in you property this is another way how to legally stop a foreclosure.

Personal loans and assets: Do you have friends or family that could loan you the amount due? Do you have assets that you can put down as collateral against the amount due is a consideration on how to legally stop a foreclosure?

Short sale on your property is another option. The short sale is where the bank takes a lower payoff amount in order to allow you to sell your home. This is a win-win method how to legally stop a foreclosure. However, you cannot execute a short sale yourself. A bank will not let the distressed homeowner do it. Only another party, such as a real estate investor, can do it on your behalf.

Bankruptcy should be considered the last resort and is a serious decision that requires an attorney. Once you take this action, bankruptcy laws forbid any further action such as a short sale, refinancing or new loan terms. However, we are not attorneys, so this isn't legal advice. Speak with an attorney about bankruptcy.

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