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My friend's home foreclosed when he was sick - What can he do now?

Submitted by Henry.trek on Thu, 06/14/2018 - 21:23

My friend was hospitalised for few weeks within which his house has been foreclosed. Is there any law to prevent it? Can he do something to withdraw that now?

If it's a temporary sickness and your friend is ok now, tell him/her to negotiate with the lender and be current on the mortgage as soon as possible.
Though an unfortunate thing, yet foreclosure can't stop foreclosure because of illness. But, a homeowner can always negotiate with the lender for an alternative payment plan.
TRy if foreclosure can be stopped.
All the best to your friend!

Submitted by Good Nelly on Fri, 06/15/2018 - 04:25

Good Nelly

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NO, there is no rule. But, your friend can request the lender for an extended payment plan by explaining his illness and financial hardship. If your friends' past payment records are good, the lender can agree on the proposal. Ask him to talk with the lender first.

Submitted by Sanders Patricia on Fri, 06/15/2018 - 06:04

Sanders Patricia

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