Foreclosure:

Create a plan to protect yourself against unfair treatment.

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Even during foreclosure, homeowners retain rights like receiving proper notice, the ability to reinstate the loan (catch up on payments), redeem the property (pay in full), challenge errors, negotiate options (like mediation), and receive surplus funds if the sale brings more than owed, though the specific process and timing vary by state. You also have rights to request account info, demand corrections, and, in some cases, sell the home before auction. 
 

Key Rights Before the Sale

• Right to Notice: Lenders must legally notify you of your default and foreclosure proceedings, including sale dates, and follow proper procedures.
• Reinstatement: You can often stop foreclosure by paying all past-due amounts (principal, interest, fees) to catch up on the loan.
• Redemption: You have the right to pay off the entire loan balance before the sale to keep your home.
• Account Information: Real Estate Settlement Procedures Act (RESPA) gives you the right to request information about your mortgage account and demand corrections for errors.
• Mediation: Some states offer foreclosure mediation to help homeowners and lenders negotiate loan modifications or repayment plans.
• Defenses: You can challenge the foreclosure if the lender made errors, failed to follow notice rules, or violated consumer laws.

Important Considerations

• Communicate: Talk to your lender and housing counselors.
• Act Quickly: Respond to notices and act fast to use your rights.
• Get Legal Help: Consult a legal aid attorney to understand your specific state's laws and options.  The Consumer Finance Protection Bureau (CFPB) and the U.S. Department of Housing and Urban Development offers support to homeowners including, (but not limited to) the CFPB accepting formal complaints regarding your mortgage company and housing counseling from HUD.

Last updated: December 24, 2025

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