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Re: Help What would you do?

Posted by Ruth on March 24, 2007 at 18:09:31:

In Reply to: Help What would you do? posted by Kathy on March 24, 2007 at 05:37:01:

Hi Kathy,

Your best way to find the information you need, is to contact your state Department of Finance.
They should be able to guide you in the right direction.

The loan servicer may not know all the answers you are seeking. Ask to speak with a supervisor or manager.
Most times the first point of contact is a customer service rep. Sad to say, most of these people are not trained to answer your questions.

As far as title goes, contact your local register deeds. Many of your questions can be answer there.
They will tell you last update on title.

Not to slam your attorney, often times I find that attorneys are not aware of the ever changing process.

Notification of your foreclosure can be done by placing a simple notice in the local paper.
Making it perfectly legal.

The bank attorneys are fed information from the servicing company or bank. Basically doing the job as the information is coming to them.

I'm sure you already know, the first mortgage company will seek to recover all their money due, leaving the 2nd mortgage with left overs.
Unless you have a lot of equity in this property, the 2nd lien holder will walk out with very little.

Hope this helps.

Ruth

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