Thank you for answeringmy questions. I intent to accept your answers so that you will get paid. However, I would like to ask a couple of more things regarding the foreclosure.
Although I was not able to keep the terms of the forebearance agreement which gave me until June or July 2009 to catch up with my payments, the bank has been accepting monthly payments from me since that time. If the bank asserts that I breached the forebearance agreement and proceeds with the foreclosure, will weavier be a good defense to this assertion?
Can unforeseen hardships brought on by the recession which was caused by the banking industry, and other unforseen circumstances (hardship) be a defense to foreclosure, if it can be shown to the court that the hardships are being over come and that I will have the ability to catch up on my payments in the near future?
I have put my retirement savings into the purchase of this business as part of my retirement plan, will the court have any sympathy to the fact that if I am foreclosed on, I will become a burden to state to provide for my retirement instead of a self-reliant business man?
Is the foreclosue proceeding an administrative hearing? Are informal rules of evidence followed? Is the foreclosure proceeding more like arguments in a motions hearing?. Or is the proceeding more like a trial with formal rules of evidence followed?
Can you provide me with any other information that will help me save my property and business. I appreciate you answers.