Step 1. Reinstating your loan

Mortgage Reinstatement-  basically means that the borrower pays all overdue amounts plus all fees and costs that were accrued by the lender when starting the Foreclosure preceding's.  This can also sometimes include attorney's fees. The additional fees can sometimes be thousands of dollars over the amount of the original Principal, Interest and Late Fees.  Under the Alaska State Law, you can potentially reinstate the loan at any time before the sale date.  But if the trustee filed two or more prior notices of default and you reinstated each time, the trustee can refuse to accept a subsequent reinstatement. 

Evaluate the following potential options or opportunities to determine if you are able to reinstate.

a.  If your credit has not been greatly effected, you may be able to qualify for a signature loan from your bank or credit union or even possibly a Hard Money Loan/Private Money Loan.

b.  Can you borrow against an existing retirement, 401 or IRA?

c.  Do you have stocks or Digital Currency that you can borrow?

d.  Do you have a vehicle, jewelry or items of value that you can sell to raise the funds?

e.  Do you have a credit card that you draw against?

f.   Do you have any friends or family that can loan you the money?

This site is purely informal and meant to help find suitable options to keep or sell your home and to help prevent the Foreclosure Auction if possible.  Any laws stated or sited here should be verified by yourself or your attorney prior to taking any actions.  Neither PassGo Realty or its representatives make any claims to understand or define the Foreclosure, Reinstatement, Loan Modification or Real-estate laws.  We are not Attorney's nor do we represent a legal firm or office.