How Do You Stop A Foreclosure After Being Served A Summons?
Reaching the juncture at which your home mortgage loan is sufficiently in arrears that your lender files a foreclosure case against you is both frustrating and frightening. Your immediate response when served a summons (notification) of a foreclosure case may be despair. In fact, you have options available to you in the aftermath of being served with a summons and petition in a foreclosure case. The key is to be as proactive as possible and not waste time exercising your rights in stopping a foreclosure. Contact the attorney representing the home mortgage lender in the foreclosure action and ascertain whether the lender will consider a settlement of the arrearage on your loan. In some cases a lender and its attorney will consider a settlement through which a smaller amount is accepted to satisfy the entire amount past due or some other resolution to the matter is reached. From the perspective of the lender, a settlement can be cheaper and less time-consuming than pursuing a foreclosure
