District of Columbia Sample Letter regarding Stop of Foreclosure Sale

State:
Multi-State
Control #:
US-0784LTR
Format:
Word; 
Rich Text
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This form is a sample letter in Word format covering the subject matter of the title of the form.

District of Columbia Sample Letter regarding Stop of Foreclosure Sale: [Your Name] [Your Address] [City, State, ZIP Code] [Email Address] [Phone Number] [Date] [Loan Service's Name] [Loan Service's Address] [City, State, ZIP Code] Subject: Request to Halt Foreclosure Sale for Property at [Property Address] Dear [Loan Service's Name], I am writing to you today to urgently request the immediate halt of the foreclosure sale proceedings for my property located at [Property Address] in the District of Columbia. I have been informed by [Provide Source of Information, such as attorney or foreclosure notice] that a foreclosure sale is currently scheduled for [Foreclosure Sale Date], and I am seeking your assistance to stop this process. I would like to briefly explain the reasons behind my request. [Explain the circumstances that led to the foreclosure, including unexpected financial difficulties, loss of employment, medical issues, or any other relevant factors]. Due to these unforeseen circumstances, I have encountered temporary difficulties in keeping up with my mortgage payments, leading to the current foreclosure proceedings. However, I firmly believe that with some assistance and a mutually agreeable resolution, I can regain my financial stability and rectify the delinquency. To support this endeavor, I have [Explain what steps you have taken to address the situation, such as seeking financial advice, attending homeowner counseling programs, or making partial payments if applicable]. I understand the seriousness of the situation and the need to address the arrears promptly. Therefore, I propose the following potential solutions to help avoid the foreclosure sale: 1. Loan Modification: I kindly request a loan modification to restructure the terms of the existing mortgage loan. This may involve extending the loan term, lowering the interest rate, or reducing the monthly payments to a manageable level. 2. Forbearance Agreement: If a loan modification is not currently feasible, I request a forbearance agreement to temporarily suspend or reduce my mortgage payments for a specific period. This will allow me to overcome the financial hurdles and resume regular payments thereafter. 3. Repayment Plan: I am willing to work out a detailed repayment plan to gradually clear the arbitrages. By combining the delinquent amount with regular monthly payments, I aim to bring my mortgage current within a manageable period determined by both parties. I understand that lenders and loan services are generally willing to assist borrowers in avoiding foreclosure whenever possible. I kindly ask that you consider my proposals and communicate your decision, along with any additional requirements or alternative solutions, within 15 days of receiving this letter. Furthermore, I would appreciate the opportunity to discuss my situation in more detail and explore all possible options during a face-to-face meeting or over the phone. I believe that transparency and effective communication are crucial to finding the most appropriate resolution for both parties involved. Please find enclosed the following documents as supporting evidence of my current financial situation: — [List of supporting documents, such as pay stubs, bank statements, tax returns, and hardship letter] I genuinely hope that we can reach a favorable resolution that allows me to retain ownership of my home. I am committed to rectifying the outstanding balance and working collaboratively with you to achieve this goal. Thank you for your immediate attention to this matter. I look forward to receiving your correspondence and appreciate your understanding during this challenging period. Sincerely, [Your Name]

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FAQ

Call the DC Foreclosure Prevention Hotline at (202) 265-2255, Monday through Friday from 9 a.m. to 5 p.m., to register for a ?Foreclosure Prevention Clinic?. You can also sign-up on Housing Counseling Services' website.

Technically, a property in Washington D.C. could be foreclosed in about 30 days. However, the typical period for foreclosure is usually closer to 45-60 days.

Foreclosures in Washington, D.C. can be judicial (through the court) or nonjudicial (an out-of-court process). In the past, most foreclosures in the District of Columbia were nonjudicial.

You can potentially file for bankruptcy or file a lawsuit against the foreclosing party (the "bank") to possibly stop the foreclosure entirely or at least delay it. If you have a bit more time on your hands, you can apply for a loan modification or another workout option.

Put your name, address, phone number, loan number, and date on the top of the letter. List the name and address of your lender. information about any money you have saved for a workout agreement. Tell the lender you are working with a foreclosure counselor and include their name and agency.

Technically, a property in Washington D.C. could be foreclosed in about 30 days. However, the typical period for foreclosure is usually closer to 45-60 days.

Ways to Stop Foreclosure in Washington, DC Declare Bankruptcy. Yes, bankruptcy is a way through which foreclosure can be stopped. ... Applying for Loan Modification. ... Reinstating Your Loan. ... Plan for Repayment. ... Refinancing. ... Sell Out Your Home. ... Short Sale. ... Deed In Lieu of Foreclosure.

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This form is a sample letter in Word format covering the subject matter of the title of the form. Regarding Foreclosure Related forms. I hereby certify that a Notice of Foreclosure Sale was sent to the present owner(s) of the real property encumbered by the said deed of trust, mortgage, or.Jan 23, 2023 — Judicial Foreclosure: The lender must file a foreclosure lawsuit (judicial foreclosure) to gain court permission to sell the home. Non-Judicial ... Oct 3, 2022 — This decree will outline a date for the foreclosure sale. The ... a breach letter by the lender before the foreclosure process can begin. A few potential ways to stop a foreclosure include reinstating the loan, redeeming the property before the sale, or filing for bankruptcy. Of course, if you can ... Receive notice in the form of a breach letter before foreclosure. You can apply for loan mitigation. If you are in the military, you will get special protection ... Learn how foreclosures work in District of Columbia. Find out what happens when you miss a payment, when foreclosure starts, & if you can redeem your D.C. ... Click here for a sample dispute letter. Confirm that you do not have any ... file the Complaint to Foreclosure in the Superior Court for the District of Columbia. Feb 6, 2015 — Agree, you can mail a letter to the clerk for your case file, not the judge, but your personal appearance will be more effective. Dec 31, 2021 — A deadline for resolving the amount owed. Next steps if the borrower does not resolve the delinquent amount. Stopping a Foreclosure Sale. Once ...

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District of Columbia Sample Letter regarding Stop of Foreclosure Sale