As mentioned in responses below, get an attorney to work on your behalf. Banks speak the language of money and security against financial risk. The banks usually just want their money, a good explanation of why you're behind on payments, and a promise to make timely payments moving forward. The bank may allow you to re-instate the loan by paying back payments, late penalties and interest, and pre-foreclosure expenses. This way you can keep your house--if that's what you want.
Also, banks will usually respond favorably to requests to put a hold on the foreclosure if you initiate a short-sale process with the bank's loss-mitigation department. Among other things, this will require the home listed for sale on the Multiple Listing Service (MLS).
Bankruptcy may be another alternative for you to consider, which is often more favorable than a foreclosure and potential judgement on your credit profile.
Call an attorney to review your options and call me if he recommends a short sale. I have plenty experience getting short-sale homes sold with minimal hassle to you while you find a new place to live.
Feel free to call me any time with real estate questions or service requests. My mobile number is 757-268-5123. You may also click on the link below to review my profile and professional services.
All the best, Joe McAvoy
I am a retired Navy Veteran and I agree with the others about calling an attorney first thing Monday. Also each Mortgage Company should have a VA negotiator; if not you can call the regional office for help. When you deal with your lender you must ask for the loss mitigation department vice collections. Also VA is a deed of Trust state. If you have your trustees information that would tell excatly when the sell will take place. Call the attorney first though.
For them to be foreclosing, you must be fairly far behind. Regardless, if you would like a "no obligation"
Q&A with me and my (star negotiator) partner, give us a call and we'll set up a time to meet to review all your options.
Best of luck with whatever you choose to do.
Glenn Russell, Broker
Coastal Group, Inc. Realtors
4634 Haygood Road
Virginia Beach, VA 23455
Cell: 757 - 641-7400
Ph: 757 - 233-9595 ext. 4
Fax: 757 - 233-9696
But to gain more time you MIGHT consider contacting your local rep and asking for their help, while you do look into a loan modification with your mortgagee. I am attaching a website where you can find your local elected officials, plus you can try calling senators for VA, too. Best of luck, KK German, Wainwright Real Estate
Call an attorney first thing Monday morning. He/She can advise you on what you need to do to stop the sale. Don't delay!! If you need a referral to a real estate attorney you can call me at 343-9095 or email me at firstname.lastname@example.org
Realtor, Licensed in Virginia
Short Sale and Foreclosure Resource
William E. Wood & Associates