Facing Foreclosure

Asked over 2 years ago - 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)

  1. Sheryl Ann Edwards

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    Answered . 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... more
  2. Christopher J Roberts

    Contributor Level 9

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    Answered . 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.

  3. Margery Ellen Golant

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    Contributor Level 20

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    Answered . 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-... more
  4. Christopher Todd Marks

    Contributor Level 7

    Answered . 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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