How Do You Stop Foreclosure Predatory Lending?
Stopping foreclosure if you’ve fallen victim to a predatory lender can be extraordinarily difficult. This is particularly true if your original lienholder sold the mortgage to another company. Lack of customer service to negotiate your foreclosure agreement can make the process much more challenging than it would be otherwise. Luckily, in most cases, lenders are far more interested in coming to a new agreement on the mortgage than in going through the expensive and time-consuming process of foreclosure. Contact your lender to ask about renegotiating the mortgage agreement. Include information about your financial situation. Detail your average monthly income and provide an example of your monthly budget. If you’re capable of supporting a mortgage, the lender likely will try to alter the agreement. Request foreclosure forbearance. Foreclosure forbearance halts the foreclosure process and temporarily suspends payments. It’s offered to borrowers who have gone through a one-time financial
