Re: Stalling or Stopping Foreclosure?

Posted by steelep@aol.com on October 20, 2008 at 06:22:07:

In Reply to: Re: Stalling or Stopping Foreclosure? posted by MikeG on October 19, 2008 at 18:23:31:

While I understand your frustration, an angry approach ain't going to work. Comments like "shark lawyer outfit" is about as appropriate as "deadbeat homeowners".

Foreclosure attorneys are doing their job and following the foreclosure laws of your state. Don't shoot the messenger. I really think that you need to answer them by mail with a complete explanation of what has happened. While it may not do much good in stalling the proceedings you are establishing a paper trail of how you tried to cooperate.

Now, I understand that I will come across as the bad guy and you will probably take a shot at me as well, but I think it important to inject realty to the situation. You need to look long and hard as to whether you will be able to afford this house. A loan mod is given only if there is shown that you can afford it. Is your business showing signs of turning around?

Otherwise the various tactics are pretty much stalling the inevitable. Yes, you can declare bankruptcy. But the lender will get around that soon enough.

You must consider all options. If I may recommend a pretty good book on the subject, read "Stop Foreclosure Now", by Lloyd Segal. Easy to read and filled with ideas.

And other publications have been recommended on this forum in the past.

My friend, delaying the lender will not force them to do something. You still need to be able to show them that you can keep the house. But using every avenue to work with them is a more positive approach (IMHO).

And I know the frustrations of working with Countrywide. I've wrestled with them in the past myself. You just have to keep at them.

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