Foreclosure is never a pleasurable experience and will never be, so it is important to learn where you stand once your possessions have been foreclosed, according to the Local Records Office. Once the proceedings have been set up, you will have a short time to catch up on your mortgage payments before your lender accelerates the payments to the issue where they will accept nothing other than the full payment in order for you to keep the property. The timeframe you have for this will vary on the loan provider, but it will usually be no more than 60-90 days in some states.
If you are unable to fulfill these conditions in the time frame provided, hope is not over. There are a number of actions to try to maintain possession of your property, especially if you previously have made your payments on time.
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