Notice of Default has been filed and recorded but no sale date has been set for my owner=occupied single family house. I am completing a 3-month "trail plan" of reduced payments offered by Chase Bank with one payment remaining, and I'm submitting a loan mod request they will likely deny. There is a long and complicated series of events prior attempting to get the loan modified beginning Aug last yr. that includes a number of process aberrations. Eg: : while a request to extend Unemployment Forbearance ending Oct 2012 was in process Chase also required a full loan mod application package, and oct 15 they "closed the file" BEFORE the package was due and filed a NOD Oct 16, w/o acting on the request to extend Forbearance that they told me by phone had been approved There's more
The answer to your question is too complicated for this forum. The circumstances depend on the exact facts of your situation. Without knowing all the facts, including ones missing from your statement such as why you believe a permanent loan modification will be denied, anyone here can only guess at the circumstances which might allow you to "stop" the foreclosure.
You should be aware, however, in nearly all cases a nonjudicial foreclosure will be completed and valid unless, prior to the foreclosure, you tender the amount demanded to the lender.
Failure of the trustee to follow notice procedures may allow you to delay, but not stop, the foreclosure. If the sale proceeds in spite of a valid agreement for it to be postponed or cancelled, the sale can usually be set-aside.
A Chapter 13 bankruptcy will allow you to make up the arrearages through the Plan over 5 years. In many cases, this is the most viable alternative for a debtor who does not qualify for a loan modification and who cannot meet the tender requirement.
You may wish to view my blog posts here: https://mrdaymude.com/?s=foreclosure&submit=Search for rights that may be applicable to your situation following foreclosure, and for some of the circumstances courts have determined give rise to a cause of action against a lender for wrongful foreclosure or injunctive relief. There is more than one page of posts so be sure to click the “previous” button at the bottom of the first page.
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Consumer Protection Attorney
One suggestion is that you use your on-time and full trial mod payments as ammunition if and when they deny you a permanent modification. At that time, just see a competent professional to try to determine that you indeed qualify for a permanent modification.