If a homeowner is in Default, and feels the pressure of the eventual sale of her home, what are some of the things she can do to relieve that pressure prior to the sale?
– Do nothing.
– Cure the Default prior to 5 days of the sale by paying off the deliquent amount (after July 1, 2009).
– Negotiate with the lender (mediation, loan modification, cash for keys, deed in lieu, defficiency judgment waiver, etc.).
– Sell Short.
– Abandon or “Walk Away” (may not delay the sale).
– File bankruptcy (automatically stops the Trustee Sale).
– File suit and/or request the Court Order a postponement of the Trustee Sale (Injunction aka TRO).