When homeowners are facing a sheriff sale within thirty days, they are seriously running out of time to save their homes from foreclosure. Most solutions that they may have qualified for would take longer than a period of a few weeks to put together and successfully implement, and a pending public auction of the property will scare away many potential sources of help. Many options will simply not be available at all at this late point, especially if the homeowners have waited this long without working on any other plan, and fees, costs, and interest will have accumulated to staggering heights. There are, though, a number of ways that homeowners can begin working on a solution to foreclosure, even if they have less than thirty days.

One short disclaimer, though: the longer the homeowners wait to begin any plan to stop foreclosure, the smaller the chance of success. While they may be able to get together all the important documents, persuade their foreclosure help company or mortgage broker to get the process done as quickly as possible, and attempt to schedule a closing date or final agreement date within the shorter time frame, nearly everything has to go flawlessly. If there are a couple of delays, a few days here and a few there, this may mean the difference between saving the home and just running out of time. Thirty calendar days to save a home is really only twenty business days, and not every company will be willing to put their entire business on hold to focus on one case of a potential client who has already proven their inability to pay the mortgage during a rough time.

However, most homeowners will attempt to save the home until there are no options left and time has run out. Fighting until the end is their right and they may find that one of various ways to stop foreclosure is appropriate and can be implemented quickly. But, the first thing that foreclosure victims with little time should do is contact the lender and its attorneys and request more time. This should be done only when there is a plan in the works to save the home, and documentation can be provided to the mortgage company in order to back up the claim that the house will be saved if the homeowners are given more time. The lender can easily order its attorneys to stop the sheriff sale, even up to a day before the scheduled date. But, if the homeowners do not have a realistic plan, or it is just a few days before the sale that they contact the lender, it may be easier and less expensive for the mortgage company just to go through with the foreclosure auction than to save the home.

If the lender is unwilling to postpone the foreclosure auction, and the homeowners are still intent on putting together a plan to avoid foreclosure, one of the last options may be filing bankruptcy. Consulting with an attorney and filing a Chapter 13 to stop the sale will put the homeowners under the protection of the law and allow them more time to work on a longer term solution. Of course, the bankruptcy will put the entire foreclosure process on hold, and no other option may be completed while the home is under the supervision of the courts. But there is nothing preventing the owners from planning for their future, examining other solutions, and then dismissing the bankruptcy voluntarily if they can quickly close on a new loan or sell the property, for example.

No matter what option is being considered as a potential solution to the problem, the homeowners will most likely need at least two important pieces of information. First, they will have to prove their financial status is now stable, and that the financial hardship they experienced was a temporary setback that will not be experienced again. They should begin gathering their financial documents that will allow them to qualify for a repayment plan or workout solution with the lender or apply for a foreclosure loan. The second important piece of information they should have is a current valuation of the property and some sort of title search, in case they are selling the home or doing a refinance to avoid foreclosure. This information will put the homeowners ahead of the companies they are working with, as they will be able to produce any document readily and submit it. It is better for this information to be assembled as early as possible, so there are no delays seeking out long-lost documents or waiting for property information. When there is so little time to work out a solution, every single hour can make a difference.

The less time that homeowners have to find a way to stop foreclosure, the less likely they will be to find success with any option. Especially when there are less than thirty days, it is imperative to find a solution immediately and begin working on it, as well as request more time from the mortgage company. If the lender is unwilling to budge and postpone the auction, bankruptcy to stop foreclosure may need to be considered as a last-ditch effort to gain the time needed. Although they should begin working on saving their homes as early as possible, the old saying of "better late than never" applies even to foreclosure victims. Time is the most important aspect of the foreclosure process and the most valuable tool available to homeowners, but even homeowners with little time can still find a plan and successfully get out of foreclosure.

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