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How Can I Stop a Foreclosure?

Before a property goes to sale, the foreclosure can be CURED by bringing the payments current. An Intent to Cure must be filed with the Public Trustee's Office (there is no cost to file) at least 15 days before the Sale is scheduled. The amount necessary to CURE a Foreclosure is determined by the lender. The money must be received by the Public Trustee's Office by noon the day before the sale.

An Intent to Redeem must be filed with the Public Trustee's Office at least 15 days before the end of the Owner's Redemption period. The amount necessary to REDEEM a Foreclosure is determined by the successful bidder using statutory guidelines.

PLEASE NOTE: For foreclosures processed under the laws in effect 1/1/08 and thereafter, the owner/borrower will NO LONGER HAVE ANY REDEMPTION PERIOD after the foreclosure sale. The owner/borrower will, however, have a longer period of time PRIOR to the foreclosure sale in which to "cure" the default on the loan. Junior lienors may maintain post-sale redemption rights.

Please consult your legal advisor for clarification of your rights, the rights of the homeowner and other lienholder's rights during the redemption period.

When a foreclosure is Cured or Redeemed by the OWNER, all other liens, junior and senior, remain in place.