Accepted Answer

Good afternoon,

I'm very sorry to hear of your dilemma.

It may be premature for you to retain an attorney as there has not been a lawsuit served on you yet.

I would suggest that you follow up regularly with the loss mitigation department of your bank to make sure that your file gets assigned to someone as soon as possible, and then that you communicate regularly with that worker in an effort to resolve your dilemma.

The letter from the bank's attorney is only a first step, and you can simply call, or write back to the attorney, and let them know that you realize that you owe money on the property but that you can't afford to pay it.

Hopefully, by the time the lawyer decides to take any legal action the problem will have been resolved by the loss mitigation worker handling your file.

I wish you the best in this difficult time.

Thank you very much for having allowed me to assist you. It would be greatly appreciated if you would click the green Accept icon so that I can receive credit for having assisted you.

Best regards,

Doug

Expert:	LawTalk
Pos. Feedback:	99.1 %
Accepts:	2546
Answered:	6/18/2009

Attorney

I am a practicing attorney with more than 25 years of experience in the legal field.