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21 Dec 2016

Everyone of us are petrified with the word of foreclosure sale, it is one th biggest nightmares for people who have fallen behind in thier mortgage payments, and may never seem to find a way out of the debt they are drowning in. Even if the monhtly mortage payments are made, clearing the past due balance can be one of the biggest hurdles.

There are a few ways in which you can stop foreclosure sale and save your property. Though a lot of properties has been lost due to foreclosure, there ares till many ways to stop foreclosure sale in texas.

The following ways can help you stop foreclosure sale.

First option is Bankrupcy. This can be used as a last resort option. If you are drowning in debt then this may be a good option to negotiate with all the lenders at once. This is a tedious job, and it wont help you avoid your debt, but you will definitely benefit from serious help, sometimes this can be the best option you can afford to stop foreclosure sale, if all other doors are closed.

Second option can be reaffirming. This can be a very good option to choose, but this also comes with a lof of risks of additional penalties. When you reaffirm, you are making an extra committment to pay. In most states this is allowed, but reaffirming, you will be creating extra liabilities if by change you are not able to stop foreclosure sale and your property is being auctioned.

Thirs option is Negotiate with your bank. Most banks are usually leniant to some level and will offer you guidance whenever needed. You will have to work extra hard to convince them, but mostly likely after it pays off, you may be able to get your intrest rates reduced, or have some reduction in your paymeny or extend the time period to pay your dues. This can happen only if you atleast make an attempt to clear your dues every once a while. if you have fallen short of a lot of payments, then you will not be qualified to even get a reduction in your intrest rates or any extended time period. If you want a perticular time period to clear your dues, most banks will agree and will be willing to wait a few months. Sometimes this amy be enough to stop foreclosure sale.

Lastly, you can borrow money from a private investor. They will usually be able to lend money and stop foreclosure sale. Most private investors usually come forward in such situations to help their clients with certain conditions and requirements.

Sometimes you can stop foreclosure sale through these methods and save your property instead of just giving up nad having it auctioned



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