This «stay» allows a debtor who is behind on their mortgage payments on their principal residence to cure any defaults by bringing the payments current over a reasonable time period. (bankruptcy-america.com)
The borrowers will have plenty of time to cure their default before the foreclosure auction sale. (articles.chicagotribune.com)
Aside from repayment in full or a loan discharge, most borrowers can cure a default of their federal loans through one of two programs: rehabilitation or consolidation. (studentloanborrowerassistance.org)