When an auction date is imminent, what is the best course of action to take when the bank refuses time after time to modify a loan?

Asked by Peaceandpowerparenting, Hurd, ME Thu Oct 25, 2012

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Dot Chance, Agent, Burbank, CA
Thu Oct 25, 2012
I am so sorry for the trouble you are going through. Unfortunately, loan modifications very rarely go through. Were you handling the loan modification yourself, or did you have an experienced professional working on it?

You have received some good answers already below. If you want to save your house, contact a foreclosure attorney and see if they can help. The other option is to short sale your home. You need to have an agent who is experienced with short sales and getting sale dates postponed. An agent with the credentials, CDPE will be very well-versed and well=trained. If I can help, please give me a call.

All my best,
Dot Chance, Realtor®
Certified Distressed Property Expert – CDPE®
DRE License #01494182
Keller Williams Realty World Media Center

WHEN YOU THINK OF REAL ESTATE...Think DotChance.com! My business thrives from your referrals!
0 votes
Susan Bo'ur, Agent, Manhattan Beach, CA
Thu Oct 25, 2012
I'm sorry too hear this..I can only suggest you contact an Attorney that specializes in foreclosures.
Good luck to you.
0 votes
Emily Knell, Agent, Huntington Beach, CA
Thu Oct 25, 2012
Call me so I can talk to you in more detail about your situation & give you my opinion on what is the bank loan modification conspiracy, the keyword, unfortunately, is "hope" for homeowners. Hope is a very powerful thing & the banks love to dish this out 10fold with no real solutions or results.

Don't you have your home listed for short sale already? I remember your asking many questions already, but it sounds like you're not getting enough good answers. If you call me or shoot me an email directly, you won't ever need to ask another question on here again, I will address them all for you.

I have been successful in getting auctions postponed within 18hrs of THE date.

Emily S. Knell
562-430-3053 c
Realtor Since 1996
Realty ONE Group
100% short sale success ratio
& I can Prove it
0 votes
Ron Thomas, Agent, Fresno, CA
Thu Oct 25, 2012
The CONTROL and the LEVERAGE is with the Bank:
The MODIFICATION programs that Obama has encouraged have failed miserably:
The last we heard, they have saved something like 1% of the intended goal.
The Banks are not monitored,
There is no reward for the Banks,
There is no incentice for the Banks,
There is no jeopardy for the Banks,

Why should they help you?
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