Real Estate Blog - Loan M<odification Series: Can A Loan …
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Posted by Gwenn Tanvas on 01/21/2009 09:43 AM, Comments (4) · Loan Modifications in the Mortgage / Finance Channel, loan modification, foreclosure, negoiation. This post has been included in Wisconsin Information …
Here is a response on similar topic:-
Can a bank threaten foreclosure, when you are in the middle of a loan modification? 10 pnts.?They can threaten all they want. The fact of the matter is certain legal proceedings will take place to notify you. Foreclosure doesn`t happen immediately it is a process. My advice is to call the customer service number and speak to someone directly. Tell them about the loan modification, speak with their lending department if necessary. You will need to find out their policies on behind payments, foreclosure and modifications. Tell them the situation. Also, make sure they understand the late payments are to added on the back of your loan.
Get the names and extensions of everyone you speak with. Make sure you note the date and time of the conversations and make a note of the subject matter. Keep a log for your personal records.
Call the company handling your modification. Make sure they are doing their job. Ask if they gave your loan company notice of the modification. Although, you still should be making payments.
If you are getting nowhere with either company on the telephone call around and ask a lawyer to make some calls for you. You may have to give a retainer but at least you won`t loose your home!
FYI, here is a list of recently published Posts on same topic:-
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