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"The median monthly payment reduction for borrowers enrolled in
the (HAMP) program is $522" - DSnews.com

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Decree of Sale



In a Decree of Sale, the court declares the time and terms of the sale and appoints a foreclosure committee to carry it out. They also assign 3 appraisers to evaluate the property and determine its fair market value.

The borrower can pay the balance owed at any time during the foreclosure.  if the borrower fails to cure the default, the committee will proceed with the sale.  The lender can also file a deficiency suit, or make a personal claim against the borrower to pay off the balance not covered by the foreclosure sale.