Can Filing an Injunction Stop a Foreclosure?

by oliver on September 30, 2010

Question:

Can Filing an Injunction Stop a Foreclosure?

Answer:

A court order or writ which stops another from carrying out a specific action is called in injuction. Usually, filing an injunction is possible to stop a foreclosure process. However, there should be valid grounds for the filing of injuction to take effect. One of the valid reasons is when the lender failed to provide a loan modification, which is a part of his duty.

In loan modification, the lender agrees to modify or change the mortgage terms and conditions to make it more affordable to the borrower. Aside from filing an injuction, a homeowner or borrower can stop the foreclosure process in other ways. One of these include the short sale of the property wherein the homeowners sells the home in the open market at a sale price below the mortgage debt or market value. If the lender agrees to this option, the foreclosure is stopped.

You can also seek help from the banks and ask them for refinancing. You can even talk to your lender and ask for additional time in order for you to get the money that you need and eventually pay all of your debt. If you really can’t come up with the money and cannot make your payments, you can also file for a bankruptcy to stop the foreclosure process.

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