Home Buying in Allen>Question Details

rachaelford35, Home Owner in Allen, TX

HOW TO KEEP MY HOME AFTER IT HAS BEEN FORECLOSED?

Asked by rachaelford35, Allen, TX Wed Apr 10, 2013

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The only way would be to buy it back for cash from the bank that had your loan. You have probably been contacted many time by mail and phone giving you this opportunity to stop the foreclosure process. In most cases it wouldn't make sense to try to keep it. There are so many fees added on now ...legal fees...etc, that they would want you to pay for. Each situation is different, but unless something has dramatically changed in your life where you now have llots of cash to pay them off, probably better to move on.
0 votes Thank Flag Link Thu Apr 11, 2013
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
There is no way to keep your home after foreclosure or a short sale as it becomes a non arms length transaction.
Web Reference: http://dmdrealtydfw.com
0 votes Thank Flag Link Thu Apr 11, 2013
You can't keep a home after legal action been taken for bank possession and you are then consider treaspassing

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0 votes Thank Flag Link Thu Apr 11, 2013
Assuming you were the mortgagor and not a renter, and further assuming the home was properly foreclosed, you can't keep the home as it no longer belongs to you. In some instances the foreclosing entity may allow you to rent the property for a short period of time.
0 votes Thank Flag Link Thu Apr 11, 2013
Once your foreclosed, you can try calling your bank and see if they allow you to pay all your late mortgages and allow you to reschedule your mortgage based on your current financial situation, unfortunately there is no other way to stop it.
0 votes Thank Flag Link Thu Apr 11, 2013
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