Foreclosure home auction is becoming more and more common as homeowners all across the United States struggle to keep up with their mortgage payments. Many states have had foreclosures rise as much as 57% during the first half of 2008. But don’t let all of this bad news make you feel as if your life is going to end when foreclosure proceedings start. Many people may not realize it, but there is always a last ditch chance of saving a home from foreclosure home auction.

Wait it Out

Just because a foreclosure notice has been served doesn’t mean that time has run out to save the home, because bank foreclosure auction often takes more time which gives the homeowner more time as well. Though it may feel all hope is lost, this process takes a matter of months, not mere days. One alternative to foreclosure home auction is to sell your home before it is too late, and you still have time to do that after the foreclosure notice. 

For starters, you can seek foreclosure assistance from the Housing and Urban Development (HUD) department. Contact them for their free financial counseling services, which could help get you back on track. These counselors are paid employees of HUD offered to you completely free. HUD has locations all over the U.S. and you can find the office nearest you by looking them up online or calling their information line: 1-800-569-4287.

One thing a HUD counselor can do is tell you what your rights are as you go through this process. Given there is still some hope to delay or prevent foreclosure home auction in your situation, the counselor will also advise you on how to do that. Your bank or lender will usually lose money on a foreclosure, so they actually have no desire to take your home.

The Danger of Scam Artists

There are a growing number of scam artists feeding off the desperation of troubled homeowners, usually promising to stop a home for going into foreclosure home auction in exchange for a large up front fee. These scams are only out to collect the initial fee, then they disappear without providing any help at all. For example, watch out for popular scams which promise to doctor your credit report or ask you to falsify reports or documents.

Resist the Destructive Urge

It is understandable to feel extreme anger and frustration when your home will be taken due to foreclosure home auction, but you must resist the impulse to destroy the property in any way, which includes leaving dead animals or other messes behind or concocting your own bombs.  This is not only cruel, but will land you in jail. Please take your pets to a local shelter before you leave them alone in the house when you leave, as many of these left behind animals do end up dead before they are found.

It’s a very emotional time, but you must remember a home is a physical possession which doesn’t have to be the end of the world. It’s not the house that makes a home. If there is literally no way to save your home, then consider selling it before the auction takes place to limit your long term consequences.