Best Mortgage Advice Concerning Foreclosure

by Andrea Camacho from San Bernardino, CA, USA

Regarding Andrea's best mortgage advice concerning foreclosure: Hi Kate, I would recommend for those of you that are in mortgage foreclosure to look up your state's foreclosure laws. You should know what the time lines are, the process that takes place upon foreclosure, and most importantly your rights.


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Also, make sure everything is documented and kept in a safe place. Keep a log of every phone call placed or received. Know the caller's full name and their location. It's very important to document any promises made and/or extensions placed.

If you feel that your lender is not satisfactorily responding to your inquiries, look up your state's website for the Division of Finances and Corporate Securities( or something similar. You can find out if the lender has had problems and/or complaints with others before, as well as to get lots of information about them. You can also file a complaint through this state office.

Finally, the most important piece of mortgage advice I can give is to be patient. Patience is very important when dealing with a difficult situation, as well as when learning about your rights and negotiating.

UNIQUE Mortgage Tips and Solutions From Kate

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This expert online mortgage advice is guaranteed to make you a savvy mortgage shopper.

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The information you obtain at this site is not, nor is it intended to be, a substitute for financial, real estate or legal advice. You should consult an attorney, accountant, lender or real estate agent, as applicable, for advice regarding your individual situation. Comments and opinions found here are not necessarily those of Get-Your-Best-Mortgage-Rate.com

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Best Mortgage Advice Concerning Foreclosure

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Is The Bank Not Responding To You?
by: Jill

This is actually from Kate of www.Get-Your-Best-Mortgage-Rate.com inspired by an email I received this morning from our friend Jill.

Jill forwarded the article from the New York Times by Peter S. Goodman: "Lucrative Fees May Deter Efforts to Alter Troubled Loans" to me.

As I kept reading I learned that banks are turning down mortgage modifications not because they don't have an adequate work force to process the paperwork but because heaping fees onto homeowners who are late on their monthly house payments is just too dang lucrative.

If this is happening to you or someone you know, read Andrea's advice above and of course you can always write me at Ask Kate right here on this website.

Here's to the future of homeownership in America, Kate Ford

The information you obtain at this site is not, nor is it intended to be, a substitute for financial, real estate or legal advice. You should consult an attorney, accountant, lender or real estate agent, as applicable, for advice regarding your individual situation. Comments and opinions found here are not necessarily those of Get-Your-Best-Mortgage-Rate.com

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UNIQUE Mortgage Tips and Solutions From Kate

Discover Kate's Best Mortgage Blog today. Keep up to date on what's new about mortgages and additional tips to unlocking the secret code of mortgage lending.

Where to find your best best mortgage advice or not!

What to do if your mortgage loan approval begins to hiccup.

How much can you afford in a mortgage payment and why your lender doesn't know.

Eliminate guess work and last minute surprises from buying a home with mortgage pre approval.

Discover how to compare mortgage closing costs to get the best rates for the least cost.

Why you should always compare mortgage interest rates - Because the lowest rate may not be your best deal.

How to know when to lock mortgage rates - You deserve reliability and peace of mind, don't you?

This expert online mortgage advice is guaranteed to make you a savvy mortgage shopper.

Nitty gritty mortgage interest rate lock agreements and why you also need a good faith estimate.

Ask Kate For Solutions - Ask a question to get an answer from Kate.