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Best time to ask for loan mod???
- Thread starter Jeanne1976
- Start date
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Sgt. Pepper
Member
Then, please, by all means, post RELEVANT statute supporting such assertion.
Post a statute to support the fact that the OP's question is a legal question? In most cases, legislatures have not thought it fit to determine what are and are not legal questions. Do you have a statute that supports the claim that the OP's question is not a legal question?
In any event, when a person needs advice about modifying a mortgage (especially as it relates to a default), that person would be wise to seek the advice of an attorney over the advice of a CPA. In fact, I'll go so far as to suggest that a CPA may be considered by some courts to be practicing law without a license if he were to give advice regarding a strategic default.
>Charlotte<
Lurker
Sorry OP, I thought my point was kind of obvious. I guess I should have dumbed it down a little.
Remember the part where you asked if you should default now, or at a later date? And remember the part where I said you need to call your bank RIGHT NOW? Calling your bank RIGHT NOW kind of precludes the two choices you posed, yes? Not to mention the fact that the best thing to do is to not default at all, hence my suggestion that you call the bank to see what they recommend. Heck, for all I know they'll recommend that you do default, either now or a later date, for some reason. But that, again, was my point. Ask what THEY think you should do.
Any other questions? Want me to look up the bank's number for you? You do know how to dial, right?
Remember the part where you asked if you should default now, or at a later date? And remember the part where I said you need to call your bank RIGHT NOW? Calling your bank RIGHT NOW kind of precludes the two choices you posed, yes? Not to mention the fact that the best thing to do is to not default at all, hence my suggestion that you call the bank to see what they recommend. Heck, for all I know they'll recommend that you do default, either now or a later date, for some reason. But that, again, was my point. Ask what THEY think you should do.
Any other questions? Want me to look up the bank's number for you? You do know how to dial, right?
Jeanne1976
Junior Member
On the contrary, I guess I'll need to dumb it down for you Charlotte. No, informing the bank immediately doesn't preclude either of my choices because one option (which I am leaning towards) is for me to inform my bank immediately, and also not pay my March payment. Informing my bank immediately does not mean that I can't default immediately.
As for the rest of your "advice," I have doubts about your knowledge in this area, and though I can't say for certain that you're wrong, I can say that I am convinced that you know little about this subject. So if you're right it's got to be dumb luck. It's fun for you to play "smart person" on the Internet, huh?
As for the rest of your "advice," I have doubts about your knowledge in this area, and though I can't say for certain that you're wrong, I can say that I am convinced that you know little about this subject. So if you're right it's got to be dumb luck. It's fun for you to play "smart person" on the Internet, huh?
Zigner
Senior Member, Non-Attorney
And with that we bid you Good Day
>Charlotte<
Lurker
Uh, yeah it kinda does. Because you're doing neither. Because you're calling the bank. To let them know you have a problem. And to ask them what you can do about it. Instead of defaulting.
I can't tell if you're really dense or if you're just pretending to be to avoid the point, but whatever. I'm done. Good luck.
Jeanne1976
Junior Member
Dearest Charlotte
My Question: Default or don't default
Your Answer: Call the bank
Charlotte, considering I could call the bank and still default, how does my calling the bank preclude a default (or in other words, how does your response to "call the bank" answer my question)? Have you thought through this at all before posting? As you stated, I can't tell if you're dense, or just pretending to be in order to ignore the point. Perhaps you should read about this subject matter before trying to "advise" people. There's a famous saying "those who can't do, teach." You can't do, and sadly, you can't teach. My guess is that you have no experience of qualifications in this area. You can't even follow simple logic (yes dear, calling the bank still leaves me with more than one option).
My Question: Default or don't default
Your Answer: Call the bank
Charlotte, considering I could call the bank and still default, how does my calling the bank preclude a default (or in other words, how does your response to "call the bank" answer my question)? Have you thought through this at all before posting? As you stated, I can't tell if you're dense, or just pretending to be in order to ignore the point. Perhaps you should read about this subject matter before trying to "advise" people. There's a famous saying "those who can't do, teach." You can't do, and sadly, you can't teach. My guess is that you have no experience of qualifications in this area. You can't even follow simple logic (yes dear, calling the bank still leaves me with more than one option).
Jeanne1976
Junior Member
As for you being done here, I doubt that! You apparently spend hours in this forum each day (rather than being productive in real life, of course). So sad. I'll pray for you.
Zigner
Senior Member, Non-Attorney
Perhaps you should contact your bank - communication is key.
Would you like a different font for easier reading? Perhaps zapf dingbats...
Jeanne1976
Junior Member
I did call the bank today and explained the problem. I did not tell them that I had the money to continue paying until June. Now I'd like to know how I'm magically precluded from defaulting. How has my communication with the bank eliminated my option of defaulting immediately?
Zigner
Senior Member, Non-Attorney
Jeanne1976
Junior Member
Charlotte: "And remember the part where I said you need to call your bank RIGHT NOW? Calling your bank RIGHT NOW kind of precludes the two choices you posed, yes?"
Or perhaps you (Zigner) just meant that Charlotte is a nobody.
Or perhaps you (Zigner) just meant that Charlotte is a nobody.
>Charlotte<
Lurker
Wow, I was sure I was done. After my last, I was sure that you would get it, finally. Guess not. Again—wow.
You need to talk to your lender to find out what solutions they have for you—instead of defaulting. Did you get that? Instead of defaulting? After which you may think to yourself “Great! I think I will choose Option B as recommended by my lender! Now I don’t have to default and risk damaging my credit!” And then you, y’know, do Option B and don’t default? Even though you could, but you don’t because the lender has offered an alternative solution, which you gratefully accept. Of course calling the lender doesn’t actually prevent you from defaulting. But it’s something you need to do instead of defaulting. I really don’t know how much more plainly I can say it. YOUR QUESTION IS ABOUT YOUR STRATEGY TO POSSIBLY DEFAULT ON YOUR MORTGAGE. DANGER. DO NOT DO THAT. DO SOMETHING ELSE INSTEAD. YOUR LENDER CAN HELP YOU.
Would a flow chart help?
Lose your job--->Can’t afford the mortgage--->Consider defaulting--->Realize that’s a really bad idea--->Call the lender--->Explain your predicament--->Let them tell you what they can do to help you--->Do that--->Don’t default--->Because that’s a really bad idea
BTW, it’s also a really bad idea to wait until the last minute to call them. I know you're not there yet, I'm just sayin'. There is at least one solution I can think of that’s probably going to take some time, so the sooner you get it started, the better.
If you're going to ice burn me again with another implication that I'm a loser living in my mom's basement surrounded by Lord of the Rings posters and Mt. Dew bottles, you should also make a reference to my Cheetos-encrusted fingers. Unless you want to be a lot more original, I think that's de rigueur.
You need to talk to your lender to find out what solutions they have for you—instead of defaulting. Did you get that? Instead of defaulting? After which you may think to yourself “Great! I think I will choose Option B as recommended by my lender! Now I don’t have to default and risk damaging my credit!” And then you, y’know, do Option B and don’t default? Even though you could, but you don’t because the lender has offered an alternative solution, which you gratefully accept. Of course calling the lender doesn’t actually prevent you from defaulting. But it’s something you need to do instead of defaulting. I really don’t know how much more plainly I can say it. YOUR QUESTION IS ABOUT YOUR STRATEGY TO POSSIBLY DEFAULT ON YOUR MORTGAGE. DANGER. DO NOT DO THAT. DO SOMETHING ELSE INSTEAD. YOUR LENDER CAN HELP YOU.
Would a flow chart help?
Lose your job--->Can’t afford the mortgage--->Consider defaulting--->Realize that’s a really bad idea--->Call the lender--->Explain your predicament--->Let them tell you what they can do to help you--->Do that--->Don’t default--->Because that’s a really bad idea
BTW, it’s also a really bad idea to wait until the last minute to call them. I know you're not there yet, I'm just sayin'. There is at least one solution I can think of that’s probably going to take some time, so the sooner you get it started, the better.
If you're going to ice burn me again with another implication that I'm a loser living in my mom's basement surrounded by Lord of the Rings posters and Mt. Dew bottles, you should also make a reference to my Cheetos-encrusted fingers. Unless you want to be a lot more original, I think that's de rigueur.