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J. Warren
J. Warren, Lawyer
Category: Real Estate Law
Satisfied Customers: 2242
Experience:  Experience in residential real estate and commercial leases.
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I'm currently working with a bank on a modification to my

Customer Question

I'm currently working with a bank on a modification to my loan. Is it possible they will still foreclose on my house? A modification.
Submitted: 9 months ago.
Category: Real Estate Law
Expert:  J. Warren replied 9 months ago.

Hello and welcome to JustAnswer. My name is ***** ***** I am an attorney who will try my very best to help with your situation or get you to someone who can. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.

I am sorry you are dealing with this situation. While in modification foreclosure is suspended, the reality is this does not always happen and unfortunately leaves the homeowner without recourse.

It is possible the there is lack of communication between the modification/loss mitigation and the foreclosure. A homeowner must be their own advocate and assure that the foreclosure is being postponed while modification is being processed. Every communication should be document (i.e. send out a written memorandum of the phone conversation) and any promises or assurance by any agent of the bank needs to be in writing.

In short while a foreclosure should not occur it happens and is possible. The loan modification process is imperfect and does not automatically stay foreclosure even though it is intended to do so.

All my best and encouragement. Thank you for allowing me to help you with your questions. I have done my best to provide information which truthfully addresses your question. Please note: If I tell you simply what you wish to hear, this would be unfair to you. I need to be honest with you and sometimes this means providing information that is not optimal. Negative ratings are reserved for experts who are rude or for erroneous information. Please rate me on the quality of my information; do not punish me for my honesty. Kindly rate my answer as one of TOP THREE FACES/STARS and then SUBMIT, as this is how experts get credit for our time.

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