Reinstate the Loan
If you're able to pay the full amount you're behind on, you can bring your mortgage current and stop the foreclosure process.
What It Is
Reinstatement means paying the full amount you're behind on your mortgage, including:
- All missed mortgage payments
- Late fees and penalties
- Legal costs and foreclosure fees
- Any other charges specified in your loan documents
Pros
- ✓Fastest way to stop foreclosure
- ✓Keep your home and continue building equity
- ✓Protect your credit score
- ✓Resume normal mortgage payments immediately
Timeline
Reinstatement can typically be completed within 1-3 days once you have the funds available.
You must act before the foreclosure sale date to exercise your right to reinstate.
Important Considerations
- •You need the full reinstatement amount upfront (savings, family help, hardship funds)
- •Make sure you can afford future monthly payments to avoid falling behind again
- •Get the exact reinstatement amount in writing from your lender
- •This amount increases daily as interest and fees continue to accrue
See If Reinstatement Fits Your Situation
Not sure if you have enough to reinstate? Let's talk about your options in a confidential, no-pressure conversation.
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