There are some options open to you when you are looking for information about how to stop foreclosure on your home. And no matter what naysayers may tell you, you always have options open to you at every point in the foreclosure process.

In all firness to homeowners in foreclosure, some will need professional help more than others. One borrower may be willing and able to negotiate with the lender until a solution is reached, while another will be terrified of even picking up the phone, let alone calling the mortgage company and explaining the situation. Every family facing foreclosure, though, should first determine their need for professional assistance.

To begin with, the homeowners themselves need to establish that they have a clear need for a loss mitigation or legal assistance company. Discussing the issue among the family members and with various financial professionals is the first step in this determination. Of course, every foreclosure help company the owners speak with will be of the opinion that professional assistance is recommended, but the borrowers must be the ones to make this choice.

The foreclosure process can take up to a year for some people. This is because there are many steps of the foreclosure process. Not every home forecloses in exactly the same amount of time. This process can take six months for some homes and a year for others.

When a foreclosure begins a bank will issue a statement of claim because you have missed at least three payments on your mortgage. Your ability to service the financing of your home will be questioned.

The second phase of a foreclosure is when the statement of claim is served to you.

The third step of a foreclosure is the bank demanding you sell the home. This will be stated inside of the statement of claim.

The bank will give you time to try to sell the home. This timeframe can be up to six months. This period is usually called the redemption period.

Toward the end of this period the fifth step is the Order of Sale. This documentation will be served to you as a homeowner. This will include a date when the bank is going to sell the home through an auction at the county courthouse in your local county.

The final period is when the home is sold through the auction and you are required to move out of the home. This entire process can be very lengthy.

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