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Bank Refuses to Let Borrower Bring Loan Current

Posted by Michael J Wollen on May 4, 2011 at 3:20am in Short Sale Discussions
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? 

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Replies

  • Michael J Wollen 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. 

  • Smitty 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.
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