Re: Getting Close to Missing Payments
Posted by NJDave on November 18, 2008 at 05:40:16:
In Reply to: Getting Close to Missing Payments
Posted by John on November 17, 2008 at 16:11:00:
If you anticipate problems, "talking to your bank" should include sending a certified letter with Return Receipt Requested to its customer service department explaining your concerns, and asking for a formal workout application and consideration. Follow up by telephone in about a week after your lender receives the certified letter. Meanwhile, you should explore listing the rental properties for sale.
For addiitonal insight, read "Options for Real Estate Investors Facing Foreclosure" which is Chapter 10 in Fight Foreclosure!
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