Bank Refuses to Let Borrower Bring Loan Current

I have friends that wants to bring the loan current on their home and avoid Foreclosure but the bank is refusing to accept their payments. Is the bank under no obligation to let the borrower save there home from foreclosure if their financial situation changes. Is there a way to bring pressure on the bank to do what would appear to be the right thing here?

0 members like this

▶ Reply to This

Replies to This Discussion

Permalink Reply by Smitty on May 4, 2011 at 9:48am

I suggest they hire a lawyer. I'm not sure the bank is under an "obligation" but MOST banks would rather see the loan current than foreclose.

▶ Reply

Permalink Reply by Michael J Wollen on May 4, 2011 at 10:31am

That has been my belief as well but the bank would not let them bring the note current. I have seen other posts regarding this matter burt didn't pay attention to the responses at the time.

▶ Reply

RSS

Welcome to
Short Sale Superstars

Sign Up
or Sign In

Or sign in with:

Members

View All

Badges | Report an Issue | Terms of Service

Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.