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I live in Florida, we just received a summons from Wells Fargo to start foreclosure proceedings. Please help, we are being reviewed for the Freddie Mack workout option and feel we are getting the run around and now the clock is ticking. Should we just ask Wells Fargo to scratch the modification request and ask that the loan be reinstated and double up on the payments or something to bring the loan back current. It is now 5-6 months behind or should I just wait another 30 days to see if we are approved for a permanent loan modification, or hire a lawyer.
Optional Information: State/Country of Question: Florida Already Tried: Permanent Loan modification review through wells fargo as well as temporary workout option.
Hello,First it is always best to hire a lawyer.Have you been served with a notice of default or a complaint of foreclosure?
Well its in the early stages so I believe it is a notice of default and there is no sales date set on the property as of yet.
Hello,If it is only a notice of default, you appear to have a least 30 days as the foreclosure has not yet officially begun. Once you receive a summons and complaint of foreclosure, you will need to act more quickly and respond. The notice of default puts you on notice that a default has occurred and if you do not cure the default, a foreclosure action can be filed against you.
the foreclosure action has been filed, I have the case # XXXXX everything it was provided by letter directly from the attorney on July 29th.
Hello,In that case you will need to respond to the foreclosure timely or a default will be entered agaisnt you. If a default is entered, the plaintiff's request in the complaint will be granted.Consider filing an answer to the complaint immediately. You can then continue your negotiations to refi.
Well its for a loan modification not a refi or are they the same? Also, how do I go about filing an answer to the complaint, specifially what should be addressed in my response.
Hello,Well its for a loan modification not a refi or are they the same? They are not the same but my answer does not change.Also, how do I go about filing an answer to the complaint, specifially what should be addressed in my response.You will need to deny the allegations in the complaint and raise all affirmative defenses that you may have. I suggest that you retain an attorney to file for you. If that is not possible, you will need to go to the local law library and copy sample answers and affirmative defenses.
Experience: 25 years of experience. Positive feedback appreciated
Ok will do...thanks
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Just did...thanks again.