Cure a foreclosure

What is a cure amount?

A cure amount is the amount necessary to bring a foreclosed loan current. 
The Public Trustee's foreclosure files only contain cure figures when an Intent to Cure has been filed and the figures have been received from the foreclosing attorney.

Who can file an Intent to Cure?

The only parties legally allowed to file an Intent to Cure include but are not limited to property owners, persons liable, guarantor of evidence of debt and junior lien holders. An Intent to Cure must be filed at least fifteen days prior to the scheduled Public Trustee sale.

Requirements

An Intent to Cure may be filed by email, fax, mail or in person at the Office of the Jefferson County Public Trustee. See: Intent to Cure form (pdf) There is no fee to file and does not obligate the filer. Cure funds must be received in the Public Trustees office by noon on the day before the sale, and must be in the form of cash, certified funds or a verifiable wire transfer. Contact our office for wire instructions and fees.

Bankruptcy
 
When a bankruptcy is filed, the bankruptcy court will issue a court order that prevents any creditor from attempting to collect any debt from the person who declared bankruptcy. Creditors, even though they are owed money, may not undertake foreclosure, repossession, eviction or seizure.
A bankruptcy filing by the owner of the property stops the foreclosure sale until one of the following occurs:

The automatic stay is lifted.
The bankruptcy court abandons the property. 
The bankruptcy case is dismissed or closed.

What's Next?
 
Go on to the next stage of the foreclosure process by selecting it from the timeline or by clicking on this Foreclosure process link.

Last Modified: Apr 19, 2011 07:56 AM