How to verify with a lender that a client who has a NTS is undergoing loan mod?

2 Replies

According to California Homeowners Bill of Rights, there is a Restriction of Dual Track Foreclosure. If she really has a loan modification, then her home cannot be coming up for sale.. that is illegal.

We plan on calling her lender to ask some questions regarding this matter.

What are some questions I should ask the lender to inquire more information regarding her situation?

Essentially, I want to advocate for her, but if worse comes to worse, I'm here for the short sale. Thank you

The lender will not, can not, discuss the loan with you unless you have a written authorization to release info signed by the borrower, period.

Wayne is correct and, just because a borrower has a loan mod, doesen't mean they can't start/continue with foreclosure if the borrower is not performing per the terms of the mod. Were they already in foreclosure before the mod? Doesn't mean they can't still be in foreclosure, just means they can't continue with the foreclosure. They can put it on hold and/or postpone a sale to ensure performance from the borrower. Still in foreclosure, just aren't progressing.They can also default for non monetary default. Taxes? Insurance? Ilegal transfer? Do you have the entire picture and are you sure you know what is actually going on?

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