Pre Foreclosure

The Worst Thing You Could Ever Do When Facing Pre Foreclosure

Of course I would never divulge any specific client information but I think stories many times get the message across more than anything else.

But before I share the story with you, I'd like to mention again, ( I've said it elsewhere on this site) what Pre foreclosure actually means.

So what actually does loan default mean?

Are we connecting or what?

Loan default actually happens when you miss 3 or more mortgage payments on a loan -90 days past due.

At this stage a lender can move forward with actions to get the property back.

On with the story...

I got a call on this particular day from someone who had recieved a letter or somehow or another found out about my loan default consulting services and decided to give me a call.

After a brief introduction I asked to get a little information about the particular situation that let's our main character Mr. Green is facing.

" Well I've had some problems with my job that has caused me to make my mortgage payments late and then miss some payments".

So in terms of your job situation are you working now?

" Yes, but that's what the problem was, I wasn't getting enough hours. But I'm working pretty steady now."

That's a good thing!

So let me ask you a question Mr.Green if you don't mind my asking?

"Okay"

" I'm not quite sure"?

Give me a ball park number for now?

"I'd say about 5-6 months"

Okay. You should be able to verify what it actually is from looking at the letters sent from the lender.

Do you have a foreclosure sale date on this property?

Of course there is much more that I ask in terms of Mr. Greens particular situation but for the purposes of getting the point across on this short story I've shortened it.

"I don't know anything about a sale date as far as I know"?

Have you been receiving any letters from the bank?

"Yes, I have a couple that I received a few weeks ago"

What did they say?

"I never opened them"

You getting the feeling that I got when I heard that?

A BIG UH OH!

Mr. Green, why don't you get them and read to me what they say, I can hold.

My heart literally dropped into my stomach!

Mr. Green!

That Letter Says That They Are Going To Sell Your Property This AFTERNOON at 3 OCLOCK!

I gave Mr. Green the best and only advice that I could under the circumstances.

I'm not even sure if an attorney would take the case to file chapter 13 to stop a sale this afternoon!

But you can certainly try to see if you can get one.

One thing is certain you need to Get off This Phone and Get A Chapter 13 Bankruptcy Petition Filed and Most Importantly

TIME AND DATE STAMPED BY THE COURT BEFORE 3PM SALE THIS AFTERNOON!