Foreclosure is among the most difficult situation you could face, fear of losing your house because of financial troubles is not a pleasant experience.
Nonetheless, no matter what caused the problem you are now very much aware of the pain and fear that comes along with the foreclosure process.
The key is to do your best to get a home loan in order to stop foreclosure immediately.
Even though the bank may offer you a repayment plan, you may not be able to bring the loan current.
If you were not able to afford the monthly payments before, how could you afford it now with an additional amount of money with it? The best thing to do is to completely get that loan up to date or paid off in order to completely stop the foreclosure process.
Once you are able to bring your loan up to a current status or pay it off you will no longer have to worry about a foreclosure sale.
This is because all action is stopped once you have corrected the situation.
Because the amount you owe may be a good sized chunk of money, it is important to make sure that you are seeking out all of your different options to bring it up to date.
You also don't want to forget that the reinstatement amount will generally include attorney fees which could be anywhere from five hundred to a few thousand dollars depending on how far you were in the foreclosure process.
It is advisable as well, to review all the different alternatives for stopping foreclosure, for example loan modification or a short sale of your house.