[ckblondiee]

I was just notified that my bank will be foreclosing on me at the end of this month. Is there anything I can do about this? Do I have any options? Can I list my property with a real estate agent and attempt to sell myself; will this step stop the foreclosure? What may I expect of a foreclosure? What if I cannot get out in time. I have owned this home for 15 years and owe half of the value to the bank for a line of credit that I have not been able to pay on due to losing my job. Any advice would be greatly appreciated. Thanks.

[ScottGem]

Review the terms of the recently signed Stimulus package. There is a lot in there to help people in your situation.

How far in default are you? If you just received your first foreclosure notice, then you should have plenty of time as the process may take 6-9 months.

Definitely list the property for sale and talk to the lender about a short sale.

[Fr_Chuck]

You can list the property and try to see it quickly and get some money out.

How many months behind are you, since most do not start foreclosure for 5 to 7 months of being behind ( although they can as soon as you are late)

Have you gotten back to work, to try and ork some payment plan.

[mr.yet]

Send a request to them and demand they produce the original mortgage document you signed, they may have it or the may not, but insist on it.
That is the only proof that they still own the mortgage and are the holder in due course.

As Scottgem stated, check out the new Stimulus package