Читать книгу Foreclosure Investing For Dummies - Ralph R. Roberts - Страница 44

Before the foreclosure auction, homeowners who can get their hands on enough cash may have the option to reinstate the mortgage, which consists of making up for all missed payments and paying any late fees or other penalties.

To reinstate the mortgage, the homeowners must contact the lender before the auction date to verify that reinstatement is an option. If the option is available, the homeowners must work out a payment schedule with their lender.

If you’re trying to assist distressed homeowners in finding a solution and you’re running out of time, the homeowners can file for bankruptcy to buy more time. See “Filing for bankruptcy” later in this chapter for details.