If you're in active foreclosure, I know that you're able to sell the home yourself before the sherrifs auction ends. My question is, if it is your intent to sell the home, will mortgage lenders be lenient in terms of allowing a certain amount of time in order to get the home under contract... or do you just have to WISH that the home sells before the judge bangs his gavel at the sale?

You won't have an indefinte amount of time... think of it this way... someone could put their house up for sale, but it may not sell for many months, or a year or more. In the meantime, the mortgage is still not getting paid. Speak with your lender about what time frame you are looking at.

If you want to avoid foreclosure, you might want to ask them about having a short sale. The bank, or mortgage company, agrees to take less than what the mortgage is, but better than foreclosing on it, and you don't have a foreclosure hit on your credit.