How To Stop a Foreclosure Auction Immediately

Stopping a Foreclosure Sale Date in Utah when you don’t have a lot of time left can be challenging. The video below was taken at a property in Kearns UT we purchased over a weekend when a foreclosure sale date was at 9:45 am Monday morning. The owners, Robert and Doris, had called us at 6:00 pm Friday night asking for help. We were able to help them, but please always keep in mind that it is always in your best interest to contact someone as early as possible when you want to stop a foreclosure sale date.

How To Stop a Foreclosure Auction Immediately
Video Transcription

How to Stop a Foreclosure Sale Date in Utah

Hi, this is Gary, and today we’re going to talk about how to stop a foreclosure auction immediately. One way to do that is with a chapter 13 bankruptcy, and you will need one or two days before your sell date to do that. Another way is to sell your house to an investor, and again you need one or two days before the sale date to do that. Be cautious though. Sometimes it can take 7 or more days to get some mortgage payoff or lien/judgement payoff amounts. The sooner you act, the higher the chance of success for you. Another way would be to list the property, however, you do need quite a bit of time to be able to do that. You’d probably want to start that process right before, or right when you get your sell date notice at the latest. Given those three options, bankruptcy is really best if you want to keep your house. It’s kind of a hard process, your payments will probably go up, but it is definitely the best way to keep your house in my opinion.

Selling to an investor, it’s a good way to get a quick sell, get the money out of your house and get a fresh start quickly. With selling to an investor, one of the important things to consider is a lot of times you can get several months free rent before you have to move. And, you can get your money THEN you have two or three months to move. Sometimes more or less, it really depends on the investor, your situation and what you want to do.

An investor can be flexible in all kinds of situations because of their house buying services.

Case Study How To Stop a Foreclosure Auction Immediately

Behind me here is a house that we purchased from Robert and Doris that was in foreclosure. We talked to them a little bit when they started in foreclosure, then they got a foreclosure sell date notice, then they waited to call us until the Friday before their foreclosure auction date the next Monday. We were able to came in and purchase their house on a Saturday. It was scheduled to be sold on Monday morning, and they contacted me late Friday. I worked with a partner of mine and we got things taken care of at the title company on Saturday and Sunday. We closed early Monday morning and ran a check down to the foreclosure attorney that was doing the foreclosures.

We actually gave Robert and Doris three months to move. We bought this house about four months ago, and they just had a lot of stuff here. They got quite a bit of money from the sell of their house, and so they wanted to find the right place to live and take their time. We negotiated that and gave that to them, and they were very happy about that. We actually helped them move, we helped them find an apartment, we helped them move stuff to storage, and then move stuff to their apartment. It worked out well for all parties.

If you’re in a situation in which you have a foreclosure auction you want stopped immediately, please give us a call at 801-382-9199. We’d like to talk to you and at least go over all the options that are available to you by working with us. Thanks.

More on How to Stop a Foreclosure in Utah

Filing a chapter 13 bankruptcy  is the best option in our opinion to stop a sale date in its tracks if you want to keep your house long term. Once a house is part of a BK, it can be much more difficult to sell the house if you change your mind. You have to get approval from the court trustee and any or all of the proceeds from the sale can be kept by creditors after your homestead exemption. A ch 13 can also be used as a last minute option to stop the foreclosure auction and buy more time to work on other options.

A Loan Modification will usually not work at this stage of the process unless you started several weeks ago.

Selling your property to an investor can give you lots of options to work with. Investors will buy houses as-is and allow you to stay in the house after the sale of your house rent free. Sometimes an investor will purchase the house and rent it back to you long term. There really are a lot of good options when working with a house buying company.

We offer no cost consultations in person or on the phone on How To Stop a Foreclosure Auction Immediately. Please feel free to contact us anytime. Please call or text 801-382-9199 or use the form below.

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