30 Mar Struggling homeowners find little cooperation from lenders
In a March 30th article by reporter Kevin G. Hall of McClatchy Newspapers, he recounts the struggle of distressed homeowners seeking the relief promised by the Bush Administration and mortgage lenders.
The lesson learned from Hall’s subjects – Chris Jennings and Julie Mickley – is that homeowners must be bold and relentless in dealing with their lender if they have any hope of modifying their mortgage. Both Jennings and Mickley endured weeks and months of runaround and rude behavior by their lenders’ loss mitigation department, but their persistence paid off. Both eventually convinced their lenders to modify their mortgages.
As a consumer debtor attorney, I must say Jennings and Mickley are the exception rather than the rule. My clients have tried and tried to work out reasonable solutions with their lender, with nothing to show for their efforts.
By all means, if your are a homeowner drowning in debt and unable to meet your monthly mortgage obligation, pursue all avenues with your lender, and don’t give up. However, if your lender ignores your pleas for help, sending you into a foreclosure, take control of the situation and fight ’em!
How can you fight your mortgage company? Read my article on Mortgage Law Network.
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