Is it posible to stop a foreclosure when there is 1 or 2 months?

[Erick Gomez]

Hey, I have notice that auction.com has pre-foreclosures. Is there a way to stop the foreclosure process? by paying the late payments to buy the property before the auction day? 

1) Have anyone done this successfully?

2) Do you need to contact the lender or the trustee to do a payment?

Many thanks in advance.

[Josh P.]

You would need to have the owner of record on board to accomplish anything of the sort. 

You'll need a signed borrower's 3rd party authorization form, containing the loan number and borrower's social security number(s). You'll need to submit that to their lender and request a reinstatement payoff letter and it is usually prudent to also request a loan payoff at the same time. 

We have had success in acquiring subject to existing mortgages where the equity was good enough for us to pay the reinstatement amount through a "closing" where the owner QCD's into a Land Trust that we're the beneficiary of.