Foreclosure Prevention – Prevent Foreclosure by Delaying the Process For a Few Years Payments-Free

Many different foreclosure prevention techniques are used everyday by homeowners facing the possibility of foreclosure. I’m going to focus in very unusual yet very effective methods to avoid foreclosure even for a few years and without making any monthly mortgage payments; I’m talking about avoiding foreclosure by delaying the foreclosure process.The foreclosure prevention by delaying the process has many advantages; you stay in your home payments free for a very long time and offer you the possibility to qualify for a mortgage modification program in the future among others advantages. Most of the strategies used to delay foreclosure can be applied free and you can do it on your own.Foreclosure prevention techniques: To prevent foreclosure by delaying the process you first need to know how does foreclosure work and how is the foreclosure process followed. If you have a basic idea how this process work, use the following strategies to delay the process.Respond the foreclosure Summon. By responding the foreclosure letter directly to your lender, if you know how to do it properly, you may stop the process for a few months.Negotiate the late payments. By agreeing to a repayment plan of the late payments your lender may agree to stop the process. You are not negotiating a mortgage refinancing but your current already late payments.Requiring a Court Hearing. This is a very effective yet little used technique to delay foreclosure for a few months in some instances.File for bankruptcy. This is a very controversial but often used foreclosure prevention strategy. Filing for bankruptcy, if doing the right way, may delay the foreclosure process for a very long time and at the same time, gives you the opportunity to save your home. Filing for foreclosure should be one of your very last options and it is not a decision you should take lightly.