NPN wants us to approve unaffordable pmt - while at end of FC

[Daniel E.]

Have a borrower who has been fighting foreclosure for 12 months. Chapter 7, mediation, appealing denials, etc.

Borrower has offered to pay $700/mo, which is 50% of thier income. We feel this is unaffordable, and will inevitably end back in FC.

Any creative ideas? We are trying to mitigate the potential that we drop the foreclosure, re-write the note, receive one payment, and are back at square one when they default.

My original plan was to ask them to consent to judgment, and potentially execute a lease. Thoughts??

@Chris Seveney

[Adam Adams]

It sounds like they've done everything to get around paying you. Why would you think that this is any different? Proceed with the FC.