Foreclosure defense tactic #21. What the banks don’t want you to know!
After the first of the year in CA Banks can no longer continue to foreclose on a home if you are in their loan modification department. The same will soon follow for Short Sales as well and soon tafter the rest of the states will fall in line. Until now banks have been allowed to simultaneously foreclose while a person was in the process of a loan modification.
So for those of you who have foreclosures coming up before the end of the year and want to stall, file for a consideration for a loan modification. A little known fact out there, is that banks are not modifying loans $2mil or over. High end loans of 1.5 or more will often take up to a year to process.
What the banks do not want you to know is that you have the right to requst a loan modification once a year if you are denied for any reason. Most do not get the chance because a foreclosure is hot on the heals of a modification for many in hardship situations.
Since it takes time to process, an individual with the new laws coming in could technically fly under the radar by applying every year if they knew they were a high end client, or they simply dragged their feet for a while until they got declined just shy of their one year term. Since it takes 2-3 months to get back into foreclosure department, filing immediately for another modification will continue to stall until you are back on you feet enough to move forward.
Guys, Just because I know these things does not mean I am telling you to use them. But if you are in a defense hardship situation with no alternative, take the gloves off and fight back.
Save the money you need to hire the atorney we have avaiable to you when you are able, and go get the bank for damages for declining you a modification.
Bottom line, I am an Home Advocate. I want you to be able to stay in your home.
Please spread my website to your friends and family, let me reach those who need this. Get me to the people who NEED to have FAITH.
I have saved thousands of people from loosing thier homes to date, and now I am able to help those I could not before.
I am a good person to know.
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