My mothers house is in foreclosure the trustees sale is scheduled for december 13 how do i stop the sale

Burma
just discovered that my mother's house is in foreclosure. Apparently a Notice of Default was filed last August but she did not tell me about it. Now I have just Discovered that a notice of trustee's sale was filed last week with a sale date of December 13.Apparently my mother had been refinancing her house every year to get more money to live on.They were charging her huge prepayment penalties and huge fees every time she refinanced. She received very little money herself. The mortgage brokers made all of the money. This last mortgage that my mother got had payments over twice as large as her income from social security and a small pension.She has some equity left in the house. I need to stop the trustee's sale and help her put her home on the market so that she can sell it and recover the little equity that she has left.I also want to take legal action against the mortgage brokers for what they did to her and recover some of the equity that they stripped.

Anabel
I am very sorry to hear about your mother.Unfortunately our current laws are inadequate to deal with this problem. The mortage brokers know it and they have taken full advantage of that fact.That will change in 2009.I am currently working with a Democratic Candidate for Congress to unseat a worthless do nothing Republican.We will win by a huge landslide. Democrats will take the Congress and Senate by huge margins and we will take the Presidency as well.We will hold Congressional hearings on this problem in 2009 when we take over. We will completely reshape the law regarding mortgage brokers and real estate brokers to a greater extent than even was done during the great depression of the 1930's.The corruption and incompetence in the real estate industry is a disgrace that has destroyed the lives of millions of families and has destroyed the integrity of our financial institutions.The incompetence and the thievery of the real estate industry will be stopped.Unfortunately that will be too late for your mother, and I am sorry.However we will return this country to fairness for everyone, not just a few rich fat cats with more money than they know what to do with.

Merlyn
You may ignore the comments advising you to file some sort of protest. The person who recommended bankruptcy is correct, and it sounds as if your mother is an excellent candidate for doing so. A bankruptcy filing will stop the foreclosure dead in its tracks, at least for the time being. However, it won't allow her to keep the house indefinitely. Eventually she will have to give up the house unless she can pay off what she owes against it.As far as suing the mortgage brokers or lenders, save your money. Unless your mother was declared mentally incompetent, she signed for what she got, even though it was not perhaps the best thing for her. That you do not LIKE what the mortgage brokers did here does not make what they did illegal. Sadly, your mother just didn't use good financial sense when she continued to refinance.

Nereida
Go to the courthouse first thing Monday morning. She is probably already on les pendens list. At the courthouse they will show you what to file to protest and get a delay on the foreclosure. This is happening all over the country but you must file to protest. If you wait too long it will be sold on the courthouse steps and you will have to deal with the new owner. You can do all this yourself without an attorney.

Carlyn
Your options to stop the sheriff sale are the following:Contact the bank and ask them to postpone it. Tell them you are trying to save the home, and can prove that you are working on a solution (refinancing, selling, etc.) and offer to fax them a letter and documents to back up those claims.Contact the lender's attorneys and do the same thing. Sometimes, the attorneys will have a better contact at the bank than you do.Request a hearing with the court and make your case for being given more time. They can postpone the sale for you, if you are trying to work with the bank and avoid foreclosure.File bankruptcy and have the foreclosure process stopped immediately. Speak with an attorney about how long you would need to be able to file before the sheriff sale. Some states may allow you to file the day of the sale, while others have laws that drag out the process by days or weeks.

Azucena
If your mom is a senior citizen, there are laws to protect her from this kind of scam. Stop the sale first and then go to the state attorney's office for advice, concerning the lenders and whether or not the company(s) have any suits against, for this type of thing.You may need to have power of attorney from your mom to do this. If she agrees, perhaps, you should help her manage her finances in the future, as well.

Latrina
There is only 1 way to force a lender to stop a foreclosure if they do not want to. She must file bankruptcy. She will need an attorney for this. You can talk to the lender and see if they will work something out on the loan. They might but they do not have to.The odds are VERY LOW you can successfully sue a mortgage broker.