If you’re working with your bank to do a loan modification, be aware the bank might also have your home on a parallel path to foreclosure.
That’s what happened to an Arizona couple who thought their trial loan modification with Chase was approved and they were safe. They were making their payments on time and thought the worse was over — that is, until a foreclosure notice was slapped their front door and the fun began.
Chase says it was their fault and will work with both sides to remedy the situation.
Bottom line: If you are undergoing a loan modification, make sure the bank is not selling your home as a foreclosure, too.
Last 5 posts in Loan Modification
- Loan modifications are lowering monthly payments - October 4th, 2009
- More Homeowners are Late on Their Mortgages - September 21st, 2009
- Successful Short Sales…I mean plural…more than one! - September 14th, 2009
- FHA Mortgages Now Qualify For Government Help - September 3rd, 2009
- Loan Modification Slowdown - August 28th, 2009
- Stumble it!
- Categories: Loan Modification, foreclosure
