Earlier this week, both on this blog and across the Web, it was reported that actor Stephen Baldwin's home in Rockland County, N.Y., was going to put on the block next week in a foreclosure auction. However, his rep, Brad Taylor, says that's not the case. (Check our previous post for more information on Baldwin's home.)
"Stephen is presently going through a legal situation regarding his mortgage and that situation is still in process. No auction will be happening and all things related to this matter are being handled by his legal representation," People.com quotes Taylor.
Baldwin may be delinquent on his mortgage, but perhaps he has found some sort of workout with his lender to avert foreclosure.
Baldwin 43, has starred in "The Celebrity Apprentice" and "I'm a Celebrity ... Get Me Out of Here."
Word of Baldwin's plight was first reported by a local paper, and then spread swiftly across the Web.
Foreclosure a confusing process
If the auction of Baldwin's home was reported incorrectly, it's easy to see why. Foreclosure can be a very confusing and long process. There are actually six steps to foreclosure, in which if the homeowner is not able to stop the foreclosure, ends in a notice of trustee sale and the homeowner is told that the home will be sold.
How to get help
But there are steps a homeowner can take throughout the foreclosure process to keep his or her home. In our "Facing Foreclosure" feature, Cyberhomes offers help to homeowners facing foreclosure and details the six stages of foreclosure , with tips on how to prevent foreclosure during each stage. We also identify foreclosure hot spots across the U.S. and information on how to buy distressed foreclosures.
Homeowners in danger of losing their homes can also get assistance from Hope Now, a coalition of HUD approved counseling agents, mortgage companies, investors and other mortgage market participants to help struggling mortgage borrowers.—Lauren Baier Kim