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Foreclosure in West Linn : Real Estate Advice

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  • Home Buying6
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Activity 2
Sat Jul 2, 2011
David Smid answered:
Michael provides some good information in his post.

I wanted to make sure we are all clear that the way lenders/banks/credit reporting agencies change their requirements and guidlines on a very regular basis. Today they are for something, then tomorrow against it, then for and then against and so on when in comes to loans. I believe (opinion) that banks will loosen requirements and I'm sure they will also look at short sales and foreclosures in a different light in the future. That "for now" they may look at a short sale and foreclosure the same way, but later that will likely change. Banks/investors are in the business of making money and if nobody can borrow money, interest on that money can't be collected. They want to loan and as confidence builds in the market, so too will loans be more available.

I would like to repeat what others have said: Talk to a few Realtors (this is a good start), attorneys and CPAs. The more information you have the better you will be able to make a decision.

Unfortunately nobody knows the future and the ramifications of todays' decision may better or worsen over time. We can only do our best with what we have.

Keep your head up!
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Mon Jan 24, 2011
Alexander Phan answered:

LBPS in our experience has been one of the most difficult loan sericers to work with. It seems that none of the correlating departments talk to each other nor will that acknowledge receipt of a package when submitted promptly.

Like Eli stated we are not sure what your question is. Sound like you thought since you were making a payment that they would remove you from "The List" and have your foreclosure postponed. Might be the exact thing I stated above where the foreclosure department doesn't know you've made a payment or haven't been notified. You need to get in contact with them immediately if that was the expectation.

Alexander Phan
Principal Broker
Keller Williams Realty Professionals
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