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How to Cure a Foreclosure

Posted by Donna on January 09, 2002 at 1:26 PM

Help please. Can someone explain the process of curing a pre-foreclosure. Basically, what I am attempting to do is purchase a property that is scheduled for foreclosure at a public auction in 4 weeks. And I would like to make an offer to the seller and have them sign a purchase agreement. I then plan to obtain financing for that amount from a mortgage company. I am prepared to put 20% down and I am approved for the remainder of the financing. But how do I prevent the house from being foreclosed??

Do I contact the foreclosing mortgage company directly?? Or will the mortgage company handling my financing of the property take care of this??

All responses will be greatly appreciated.


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