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Facing Foreclosure

Perry, FL |

My final summary judgement for foreclosure is in July. Can I still call the bank and try and work out a payment plan

Attorney Answers 4

Posted

Until the property is sold at foreclosure sale the lender can still work out a settlement with you. If you start contacting them now, you may be able to have the lender cancel the hearing on the motion for summary judgment. Good luck!

This information is being provided for informational purposes only and is not to be taken as legal advice or to establish an attorney-client relationship. For more information on the experience of our attorneys and the services of our Firm, please visit our website at www.foreclosurelawyersarasotafl.com.

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Margery Ellen Golant

Margery Ellen Golant

Posted

While the foreclosure plaintiff (who is rarely the 'lender') is able to work something out with the borrower, the odds of that happening with an unrepresented borrower defendant are very slim. It is critical that people have knowledgable help.

Posted

You can certainly try. Some banks will work with you, some will not. But it cannot hurt to try. Be prepared that they are likely to want to add their legal expenses to your total bill. Consider hiring a lawyer to help you . I don't do foreclosure work, but a good lawyer in your area could help you negotiate a fair deal with the lender, and let you know if you have any legal defenses to foreclosure or other options. Good luck.

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Asker

Posted

one thing I do have to add here is a few months back they gave us another chance and said they would stop foreclosure at that time if we were faithful in making payments for x amount of months and we gave them our entire income tax return. Well, we blew that one..missed a couple of payments and did not give them our return, so we got a letter saying we have to go to a final summary judgement on July 3. We now have the money and could give them about 7,000...do we mention giving them money or not?

Christopher J Roberts

Christopher J Roberts

Posted

I wouldn't mention how much money you have right away in your discussions, but you should probably mention that you were able to raise some money so they talk to you. They may be reluctant to work with you because the prior deal fell through, but keep in mind they would rather just get their money and move on. In this real estate market, they probably don't want your house. I would say again that you should consider hiring a lawyer, who can help you with this negotiation process. I have no skin the game telling you that because I don't do this kind of work. The lawyers that do have all kinds of ideas that may help you. I hope things work out for you.

Christopher Todd Marks

Christopher Todd Marks

Posted

Also consider the fact that in a short sale context many law firms will charge the fee at closing that will come from the buyer's money that's used to purchase the home and approved by the bank so therefore it is not necessarily true that you cannot afford an attorney... see my other comments below

Christopher Todd Marks

Christopher Todd Marks

Posted

Also consider the fact that in a short sale context many law firms will charge the fee at closing that will come from the buyer's money that's used to purchase the home and approved by the bank so therefore it is not necessarily true that you cannot afford an attorney... see my other comments below

Christopher Todd Marks

Christopher Todd Marks

Posted

Also consider the fact that in a short sale context many law firms will charge the fee at closing that will come from the buyer's money that's used to purchase the home and approved by the bank so therefore it is not necessarily true that you cannot afford an attorney... see my other comments below

Christopher Todd Marks

Christopher Todd Marks

Posted

Also consider the fact that in a short sale context many law firms will charge the fee at closing that will come from the buyer's money that's used to purchase the home and approved by the bank so therefore it is not necessarily true that you cannot afford an attorney... see my other comments below

Christopher Todd Marks

Christopher Todd Marks

Posted

Also consider the fact that in a short sale context many law firms will charge the fee at closing that will come from the buyer's money that's used to purchase the home and approved by the bank so therefore it is not necessarily true that you cannot afford an attorney... see my other comments below

Posted

I am sure you are the same person who already asked this question. There is nothing to prevent you from calling the bank to try to work out a payment plan. However, the banks are generally very difficult to communicate with and very slow to react, and nothing you and they talk about prevents them from moving forward with foreclosure, which they will do. As I have already said, you are taking a huge risk to go forward without knowledgable legal help. I see people all the time trying to get "the bank" to "work with" them. It is maddening, frustrating and rarely leads anywhere good, and all the time, they are moving you down the road to having no house.

You cannot afford not to get an attorney. Contact Gulfcoast Legal Services and the local Bar Association to see if maybe you are eligible for free or discounted legal services. Trying to go this alone is a huge mistake.

Please note that the above is not intended as legal advice, it is for educational purposes only. No attorney-client relationship is created or is intended to be created hereby. You should contact a local attorney to discuss and to obtain legal advice.

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Asker

Posted

ok, thank you Margery.

Posted

The worst thing you can do is do nothing about the summary judgment hire a good lawyer to defeat the summary judgment motion to buy you more time to seek alternatives to foreclosure. If you are not eligible to modify your loan or to seek a workout of the loan you may consider another alternative such as the short sale ... a short sale is an opportunity to sell the property for less than you owe the bank pursuant to bank approval of course in that process can be a three-month processes you must buy time in order to seek the alternative to foreclosure otherwise you may consider a deed in Lieu of foreclosure to minimize the impact on your credit as well and seek a waiver of deficiency judgment

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7 comments

Christopher Todd Marks

Christopher Todd Marks

Posted

Also consider the fact that many law firms will charge the fee at closing that will come from the buyer's money that's used to purchase the home and approved by the bank so therefore it is not necessarily true that you cannot afford an attorney

Christopher Todd Marks

Christopher Todd Marks

Posted

Also consider the fact that many law firms will charge the fee at closing that will come from the buyer's money that's used to purchase the home and approved by the bank so therefore it is not necessarily true that you cannot afford an attorney

Christopher Todd Marks

Christopher Todd Marks

Posted

Also consider the fact that many law firms will charge the fee at closing that will come from the buyer's money that's used to purchase the home and approved by the bank so therefore it is not necessarily true that you cannot afford an attorney

Christopher Todd Marks

Christopher Todd Marks

Posted

Also consider the fact that many law firms will charge the fee at closing that will come from the buyer's money that's used to purchase the home and approved by the bank so therefore it is not necessarily true that you cannot afford an attorney

Christopher Todd Marks

Christopher Todd Marks

Posted

Also consider the fact that many law firms will charge the fee at closing that will come from the buyer's money that's used to purchase the home and approved by the bank so therefore it is not necessarily true that you cannot afford an attorney

Christopher Todd Marks

Christopher Todd Marks

Posted

Also consider the fact that in a short sale context many law firms will charge the fee at closing that will come from the buyer's money that's used to purchase the home and approved by the bank so therefore it is not necessarily true that you cannot afford an attorney

Christopher Todd Marks

Christopher Todd Marks

Posted

Also consider the fact that in a short sale context many law firms will charge the fee at closing that will come from the buyer's money that's used to purchase the home and approved by the bank so therefore it is not necessarily true that you cannot afford an attorney

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