3 Responses for "In VA how do you stop a foreclosure once the sale date has been set.?"

1. Carol December 11th, 2009 at 1:45 pm 1

   It doesn’t matter what the type of loan is - VA, FHA, Conventional or otherwise.

   See an attorney.

   Your options to keep your home or buy time are limited. Of course you can come up with the money to halt it. You can also look into a Chapter 13 bankruptcy filing.

   But see an attorney. Foreclosure is a serious issue best handled outside of Yahoo.

   Good luck
   References :
   Finance and Mortgage Consultant since 1978

2. wizjp December 11th, 2009 at 1:51 pm 2

   Only the trustee can stop the sale (VA is a deed of trust state) and you need to have the lender contact them to stop it; generally that means a revised agreement to cover unpaid amounts or payment of the note in full
   References :
   Virginia tite agent

3. SheLock_Homes December 14th, 2009 at 1:46 am 3

   The fastest and easiest way to do this is going to be applying for a loan modification. Depending on the bank, you only have one shot to get the numbers right to show that you make enough money to pay something every month on the loan. That payment would have to be a minimum of 3.1% interest rate amortized at a maximum of 40 years. The amount would also have to be at maximum of 38% of your monthly gross income. If the numbers don’t work in your favor, "rent out a room" immediately and use that income as part of your monthly income. You will have to eventually show a rental agreement provided by you in writing, however, that is IT. Banks routinely coax borrowers into "renting out rooms" to get their income up to the legal amount to save the home from foreclosure.

   If you are unemployed, a loan modification is very unprobable. Immediately locate top short sale agents in your area via google, call all of them, and ask if they have an investor that would write an offer TODAY, and ask how many months is the maximum amount of time they were able to postpone a foreclosure sale date. Ask if they have ever been able to have a foreclosure reversed. If all signs point to go, sign the listing, obtain the offer, accept it (sign it) and let the agent do their stuff. They can postpone the sale same day. Worst case, up to the day of the auction, but everything has to be planned like a chess game.

   Contact me or google me if you need additional info.
   Lindsey Kinnsch
   homefinancepro@gmail.com
   References :
   I own a realty company, am a former manager of 25,000 foreclosures inside a HQ of a lender, specialize in short sales, have 1 year experience consulting for a loan modification company, have postponed sale dates upwards of 50 times, some, for over 1 year, and have also had a foreclosure legally reversed. San Diego.