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Banks and mortgage lenders don't want to foreclose.  Lenders usually lose money on the transaction because the property is often sold for less than the amount owed on the mortgage.

However, the following are 5 reasons lenders will not rescue you from foreclosure:

•     You ignored the problem too long.
•     You're not helping them help you.
•     You're unable to show your ability to keep up with payments.
•     They want to get the matter settled quickly.
•     They lose less money by foreclosing.

Here are 4 way that could help turn the situation around:

1.     Never, ever ignore the situation.  Inform your lender as soon as you know there will be a problem, and keep them up to date with your financial situation.
2.     Give your lender all the information they need to help you work out a solution.
3.     Show your lender that you have the ability as well as the willingness to get up to date with your mortgage.
4.      Get the problem resolved as quickly as possible.

Can't pay your mortgage?  Can't Refinance?  Call me for a free consultation.

626-388-1500.