How Can I Prevent My Loan from Going into Foreclosure?

The best way to prevent foreclosure is to continue paying off your mortgage loan on time. If you are a responsible borrower and make your mortgage payments on time each month, you will not face any issues related to foreclosure. Even if you occasionally pay your mortgage installment late, there is little chance that the foreclosure process will begin before 90 days have passed. Even after the 90 day period, you can still try to negotiate with your lender so that they will not begin foreclosure. Foreclosure takes time and will not occur within 30 days (120 days in total since the default date). Of course, this negotiation should include an explanation for late payments and agreement to fulfill your obligations.

Avoiding foreclosure becomes much more difficult once the foreclosure procedure has effectively started. In this case, you might attempt to defend against the foreclosure through judicial procedure, for example by arguing in court that you were not properly notified or that the mortgage is no longer valid. These options are difficult and costly, and will likely require an attorney to assist you. Unless you have a very compelling argument, you will be unlikely to prevent foreclosure at this point.