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Posted over 15 years ago

Half the problem in todays foreclosure epidemic.

Misinformation. Half the problem in todays foreclosure epidemic.

There is so much fear of contacting the lender, but maybe for good reason. Today, I was dealing with a lender whose counselor tried to tell me that the property in question had a sale date of 4-11. The account was not referred to foreclosure until recently on 4-3. When I began to explain that there is no possible way that foreclosure was done in only a week's time, I was rudely interrupted.  The counselor tries to give me a lesson (LOL) and tell me that all states have different time frames and that she did not need to explain herself to me. WOW! There is so much misinformation going around in these lending companies that it is no wonder people do not want to call their lenders. Luckily, I know what I'm doing and immediately steered the conversation to get information on how to get a hold of the actual foreclosure department or attorney doing the reconveyance, not just the loss mitigation department. I was given the number and warm transfered to the department. After explaining my previous experience, the other counselor laughed at the previous counselor's misfortune (of being poorly educated).  He continued to tell me the house had first legal action done on 4-11 and was referred to foreclosure on 4-3. So now the story has come full circle! Lesson is: Please research your situation and make sure you are well aware of your loan status and the laws associated with foreclosure in your area because misinformation of that nature can cost a lot of money with last minute moving costs (because of the fear of being thrown out) when the time may really be there for some better planning to fall into place (besides living for FREE in the residence not just until the foreclosure sale date but to the end of your eviction time frame.) If this is something that you are so out of place, then we suggest that you hire a counseling service with experience. (PLEASE do not just pick any company because there are many unscrupulous people out there!)


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