-
FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
By continuing to use this site, you are consenting to our Terms of Service and use of cookies.
Help Please
- Thread starter dberan
- Start date
Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills Please click a topic or scroll down for more.
Thank you for your wonderful heart-felt post. I was on the edge of my seat, waiting for you to ask just ONE legal question. Alas, I was disappointed when I found out you were just posting a statement without any question at all.dberan said:
Thank you for your post though.....
Of course, any advice on 'how to respond' would depend largely on what you have done to date... and what you want to try to do.dberan said:
Presumably, since this has gotten to the point of 'notice to foreclose' you have exhausted all reasonable negotiations. Is that correct?
What EXACTLY have you done to try to negotiate a resolution and to forestall the foreclosure??
If you have in fact exhausted all avenues of resolution, your options as to 'how to respond' are very limited. The lender has the right to foreclose on the property if you are in breach of the agreement. They do NOT have to negotiate with you. Your response should be to do WHATEVER is needed to prevent them from selling the property on the courthouse steps. This could include refinancing, getting a second mortgage or borrowing the funds necessary to bring the note current. Of course, if you have tried all that and simply do not have the resources to pay the debt, your only real option is to start looking at ways to minimize the credit impact.... and to find a new home.
Thank you
Thank you for your response..I have only received Notice of Lis Pendis. I thought there was a simple format to follow for a response letter to delay the next step. I will be closing on a refinance in a couple weeks and wanted to allow enough time. The refi is with a hard equity lender and I was assured that there will be no problems. Thank you again
Thank you for your response..I have only received Notice of Lis Pendis. I thought there was a simple format to follow for a response letter to delay the next step. I will be closing on a refinance in a couple weeks and wanted to allow enough time. The refi is with a hard equity lender and I was assured that there will be no problems. Thank you again