Q: If I pay the full past due amount for my mortgage will that stop forclosure?
I lost my job last Oct, but im back to work full time and can now pay all the past due. I'm about 3 months behind.
A: In Virginia, paying the full past due amount on your mortgage can indeed halt the foreclosure process, assuming the lender hasn't already completed the foreclosure sale. When you pay off the entire amount you owe in arrears, including any late fees and legal costs incurred by the lender as part of the foreclosure process, the lender is typically required to stop the foreclosure. It's important, however, to communicate directly with your lender as soon as possible to inform them of your intention to pay the past due amount and to confirm that this will stop the foreclosure. Be sure to get any agreement in writing to protect yourself.
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