My younger brother called me up the other day because he has been looking at stopping foreclosure using a process called a short sale. This is where the bank takes less for the sale of the house that you owe, effectively allowing the owner to sell the home quickly, and stopping foreclosure. I was quite surprised that he was able to sell his him via a short sale in about six months. He was so excited because stopping foreclosure meant that he wouldn’t have to worry about his credit rating getting destroyed. I was so happy for him, because there was one thing that I wanted over the holidays for him this year: the house to sell and stopping foreclosure to become a reality for my younger brother. I think that in the future he will wait longer before buying a house. The moral of the story is that you can indeed go about stopping foreclosure with a short sale. It does work and my younger brother just did it! I would recommend contacting your local Attorney General’s office to find companies that assist in stopping foreclosure if you are looking to do so!
