If someone is 2 years behind in making their house payments, can foreclosure be stopped ?
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If someone is 2 years behind in making their house payments, can foreclosure be stopped ?
Asked on November 5, 2012 under Real Estate Law, North Carolina
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Sometimes the foreclosure can be stopped within, I believe, 3 years of the mortgage being taken out if certain misrepresentations or omissions--providing false or no information as to certain things--can be shown in the mortgage paperwork; this is drawing on the Truth in Lending Act (TILA) and its implementing regulations.
A foreclosure can also be be stopped, or at least stayed for some number of months or, sometimes, years, by filing for bankruptcy.
If you are a homeowner looking to stop foreclosure, there are lawyers who specialize in this. You should consult with one.
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