The lender is in control of the nonjudicial foreclosure. Accordingly, the lender can stop the process and reinstate the loan, especially if the lender and borrower can agree to a reasonable payment plan. Not only does the borrower need to bring the back payments current, but the borrower must also pay all unpaid fees and expenses. Refinancing, and paying off the current loan, always stops the nonjudicial foreclosure.

Another option available to the borrower is to seek replacement financing. Sometimes this is a good alternative because it allows the borrower to start over, often with a lower monthly payment.

As a real-estate investor investing in foreclosure properties, it is important for you to realize that property owners (defaulting on their home loan) can stop the foreclosure at any time by finding alternative financing or selling their property. Either option pays off the borrower's defaulted loan. Of course, that payoff can stop any deal or transaction you are working on as a real-estate investor to acquire the property.