How To Stop Foreclosure Video1 Mortgage Reinstatement
Video 1 of our "How To Stop Foreclosure In 48 Hours"
Bringing your loan current also known as "Reinstatement"
Mortgage Reinstatement simply means that the lender is going to restore you loan back to an active status and stop your foreclosure.
Once your lender files the legal documents to start the foreclouse process; you typically have about 90 days to stop the foreclosure from moving forward by bringing your loan current.
The amount of money needed to for "Mortgage Reinstatement" is all the past due amount and paying all fees that the bank incurred including late charges, filling fees and legal fees.
If you do not have the full amount needed to make up the back payments in full. Your leader may allow you to work out a payment plan.
In order to improve your chances of getting your payment plan accepted; you must be able to prove that the situation which caused you to fall behind on your mortgage is no longer a factor and you have documentation to back you up.
Most lender will want at least half of the past due amount upfront and will then increase your monthly mortgage payment by a half so that the other half of the past due amount will be paid in 12-24 months. Please make sure to document all conversations with your lender and get all agreements and promises in writing.
Please review all of Stop Foreclosure videos at http://TLCRealEstateToday.com and get your free copy of our E-book "The 5 Easiest Ways To Stop Foreclosure In 48 Hours" available at http://TLCStopForeclosure.com so that you can know your rights.
How To Stop Foreclosure Video1 Mortgage Reinstatement