Take Swift Action to
Postpone the Sale of Your Home
If your attempts to obtain a loan modification, mortgage
refinancing, or postponement of the sale of your home have been denied, it’s
time to take swift action. If you want to save your home from foreclosure, you
must act immediately and utilize all resources available to you.
First, if your mortgage servicer has not approved any requests to
postpone your sale, you need to use every means possible to escalate your
request for postponement. Contact your lender immediately in every manner
possible (telephone, email, FAX, overnight mail, etc.) and urge them to immediately
escalate your request.
At this point, it is imperative that you make every attempt to
speak to your lender, letting them know that you want to cooperate and save
your home from foreclosure. Also, take every other measure possible on your own
behalf. Each of the following actions can support your mission:
- Contact your lender, in person or by telephone, and find out what
options you might have. Get the contact number for the president of the
institution, too, and bring the matter to his or her attention.
- Seek the advice of a qualified, competent attorney. If you cannot
afford to hire one, reach out to your local free legal office.
- See if bankruptcy is an option and could possibly help you. If one
attorney is not sure, contact another until you are certain that you have
received up-to-date advice.
- Seek the support of government offices and/or officials, elected
or otherwise. Call:
- The Consumer Protection division of your state’s Attorney
- The Banking Commission or
Division of Banks in your state.
- Your elected officials, including your state representatives and
senators, your federal representatives and senators, your local mayor, the
Governor of your state, city counselors, aldermen, etc. Ask each of them if
they can help you or if their office can provide any assistance and request
names and contact information for anyone they can refer you to. (The contact
information for all senators and representatives in Washington, DC, is
available at http://www.usa.gov/Contact/Elected.shtml.) Provide your
elected officials with the contact information for the president of your
lending institution and request that they call him or her on your behalf.
- Find out if your bank participates in
HAMP (the Home Affordable Modification Program). Contact your bank and/or visit
their website www.makinghomeaffordable.gov. Learn everything you can about qualifying for HAMP and the
proper way to apply.
- Increase your income by renting a room
or adding another source of income to increase the likelihood that you will
have sufficient income to qualify for a loan modification.
Do everything you can to save your home. See if you are eligible
for HAMP (Home Affordable Modification Program, HAMP Tier 2, HARP (Home
Affordable Refinance Program), other loan modification programs your lender may
have available, which may include principal reductions. Stay up-to-date on all
information, dates, and requests from your lender and keep duplicate copies of
all correspondence and mailings for your protection.
When you are facing foreclosure, you must be your own best
advocate… become informed, take every measure available to you, and seek the
support and advice of trusted officials. You do need to make plans for your
future, but meanwhile, you should continue to focus your efforts on preventing
foreclosure and postponing the sale of your home.
David vs Goliath
Modification Guru Reveals How Homeowners Can Challenge the Big Banks and Save
Anna Cuevas, known as “America’s Loan
Modification Guru,” has guided thousands of Americans in keeping their homes
from foreclosure. A popular blogger (askaloanmodguru.com and
huffingtonpost.com), Cuevas has been called a “superhero of the loan
modification industry” and has been nominated for CNN’s Heroes. She is the #1
bestselling author of SAVE YOUR HOME Without Losing Your Mind or Money.
Save Your Home