Maybe your behind in your mortgage payments, maybe there is a foreclosure notice posted on your door.

There are ways to slow down or stop your house from being foreclosed on.

With todays economy, millions of homeowners are having problems making their mortagage payments.

Many late payments are due to job loss, health problems, or just plain bad luck.  The banks got bailed out of their problems by the government, why shouldn’t you.

There are many options available to you but few people know about them and allow their homes to go into foreclosure.  In addition to the following delay tactics you can get complete methods here.

1. Contact A Credit Counseling Agency – Few people realize that these businesses specialize in helping people renegotiate their mortgages.  They can also roll in your past due payments into the renegotiated mortgage so that your mortgage will become current again without any money now.

2. Challenge the Sherrifs Appraisal – You can slow down or stop a foreclosure auction by challenging the appraisal amount that the sheriff deems reasonable.  The sheriff is no real estate expert and you can easily challenge his opinion and therefore delay the sale for months.

3. File a Continuance – Before every hearing date involved in the foreclosure process you are able to file for a continuance.  This will postpone the hearing to a later date, many months later usually.  This is more of a stalling tactic then anything else but it works and cost nothing.

4. Multiple Bankruptcy – Normally a person files 1 bankruptcy but if you plan it properly with an attorney you could file a chapter 13 bankruptcy, and them right before the sheriffs sale of your home file a chapter 7 bankruptcy.  This will make the bank start the foreclosure process all over again buying you years more of time in your house since a new bankruptcy forces a new foreclosure.

5. Loan Modification – Most banks will try to work with you if you want to keep your home by modifying your mortgage.  Many times they will roll your back payments into the new mortgage which will make you current on your mortgage.

6. File Chapter 7 Bankruptcy – If you file the bankruptcy right before the sheriffs sale again it will halt all foreclosure activity.

7. Write Letter To The Court – As soon as your foreclosure process begins you will recieve a notice of legal action.  Once you have responded to the court in what ever manner you deem fit, you will cause a delay of the default judgement.

As you can see there are many options to delay or stop foreclosure but there are many, many more.  If you are looking for complete details and every possible solution look here.

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