I understand if you have to stop a sheriff sale, much of the time information like the following is helpful.

I understand if you have to stop a sheriff sale, much of the time information like the following is helpful.

Statistics show that up to 85 % of the time when a homeowner solves his repossession he is back in property foreclosure within a year. This is due to the fact that most of the standard methods of resolving foreclosure like loss mitigation and loan modification a good deal of the time do not place the property owner in a better situation to be able to manage his or her house in the long run. The only way to do that is to improve the terms of the mortgage loan, a lot in the favor of the homeowner/borrower. There is generally no reason for the Lender to do that. One of the few or the only motivation the lender has to do that is because the lender has been caught in violations of the law in favor of the homeowner and the loan provider has been revealed by the borrower/homeowner or his/her attorney the home owner knows the violations and is prepared to beat them in court and expose their liability and make a public show of the banks bad negotiations.

Many times banks will certainly be a lot more willing to negotiate and bargain reasonably with you and re-write/recast the loan if they see you are tailoring up for a big court struggle because they could possibly wind up paying a lawyer $ 100.000.00 / one hundred thousand dollars or more if it takes months and months to battle you in court.

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