How to Stay in My Home After Foreclosure

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Despite the devastation you no doubt feel when going through a foreclosure, it is important to keep your wits about you so you fully understand your options. Some might think they will immediately wind up on the street after falling behind on the mortgage after a few months. Actually, the law gives you the right to remain in your home for a given period following a foreclosure. However, before you get to this point, do what you can to resolve the matter with your bank. Know your rights so you can operate knowledgeably.

Check state law to learn the time period in which you are allowed to remain in your home. All states have established such a time period. Next, talk to your bank to find out the date of the foreclosure. In most cases you are okay until you have received final notice.

Try working out a payment plan with your bank so you can avoid foreclosure. Talk face-to-face to find out your best option. Bank officials will be willing to work with you to find a solution that will allow you to keep your house. Exhaust all options to reach an agreement.

Sit tight for the time being. If you cannot come to terms with the bank, the foreclosure date is set and you have received a notification letter of your home’s impending auction, then you will have a total of about 90 days to stay in the house. This will give you some time to work out alternate living arrangements.


  • Do not feel embarrassed or ashamed to approach your bank. Foreclosure is not as uncommon as you think; plus, it is essential that you strive to keep your house that you worked so hard to purchase.


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