Re: Foreclosure Question(s)
Posted by steele in minnesota on October 29, 2008 at 05:52:39:
In Reply to: Foreclosure Question(s) posted by Laura on October 27, 2008 at 19:03:28:
You are actually at the best place timing wise as you have all your options available at this point. First, in Minnesota a deficiency judgement is rare to the point of non-existant for single family residences. However, a full foreclosure is going to clobber your credit. You do have options including a possible deed in lieu (not likely with Wells Fargo but possible) or a short sale.
Because you are not behind the people you are talking to are likely glorified bill collectors. Don't really expect much help at this stage. Like most lenders the more pain that is felt the better the response. As you are current there is no pain. Once you start missing payments...you will start to get a different response.
Should these lenders be more proactive? You would think so but they are also overwhelmed with full blown foreclosures. Keep trying.
There are also a ton of resources available in Minnesota, non-profit and goverment.
Steele
http://www.MinnesotaForeclosureNetwork.com
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