To stop your property from foreclosure, you must be willing to work with a real estate attorney who specializes in negotiating loan modifications.
If you have reached the point in this process where a foreclosure sale date has been set for your property, there is not much you can do to prevent the sale, other than file bankruptcy, unless you retain legal representation. A lawyer can file an injunction with the courts that will cause a temporary stay of any other action against his property. A lawyer will be able to start the negotiation with your lender and keep the judge satisfied knowing that he is trying to reach some type of agreement.
You should be aware that in order to stop the foreclosure sale, it will cost you a premium based on how soon the sale date of your property is. This is why it is so important to be proactive and not allow the process to reach a point where a date has been set.
Your lender will do everything possible to expedite this process and finalize all the necessary documents, so contacting them at this point is useless. The only way to stop your property from foreclosure is to seek the services of an attorney who is experienced in this type of negotiation. It is not enough to simply work with an attorney who will try to defend you.
At the very least, an attorney will be able to get late payments, penalties, and interest reworked into the loan so you can continue making your regular payments. Many times, homeowners fall behind on payments and lenders make it nearly impossible to get back on track when they factor in all the penalties associated with missing one or more payments.
Ideally, a loan modification attorney will be able to lower your interest rate to a level that reflects your current income levels. This will lower your payment and make the mortgage affordable based on the financial hardship you have experienced.
Therefore, if you want to stop your property from foreclosure, it is strongly recommended that you seek the help of an experienced real estate attorney who can negotiate on your behalf to prevent the bank from repossessing your home.