I don't think this is new - News- but it is true. If you are in mortgage trouble or foresee that you will be in mortgage trouble, you will need to bite the bullet and contact your mortgage lender as soon as possible. Just know that they are a debt collector. If you didn't know that or had some idea that they are your friend.... Remove that kind thought and just go on and call them, answer their questions and see what options they have for you in order to help get your mortgage payment reduced or tell you what other options they have to offer you.
Yesterday, I called one of my clients' mortgage lender and the customer service rep actually answered the phone, " Good afternoon, this is Maria.... I am a debt collector!" so there is no doubt this is what they are. She was polite, but believe me she asked me the questions that indicated that she was indeed trying to get more information on the homeowner so they could proceed with collecting on the debt they owned the bank!
I always tell them I do not have the homeowner's phone number just because I feel that is something the homeowner should give out. Why? Because once they get your (say cell phone number), they have a routine recorded caller that will call you 2 or more times a day!
So homeowners should give their home number instead of their cell phone number --- especially if they are on limited minutes on the cell phone.
So keep this in mind.... Your bank is not your friend - they are a debt collector and they are good at it.
Check out our website and find tips for BUYERS and SELLERS - Find some valuable information on ( Short Sales, Bank Owned Properties, Latest Loan Modification programs - including Foreclosure Alternatives Program to help prevent Foreclosure). I work with my daughter (D'Adrea Davie) as the Mother and Daughter Real Estate Realty Team at Family Realty Group and we have the latest information for the Loan Modification program & FAS (Foreclosure Alternatives Program).
Our aggressive marketing plan includes on-line listing advertising.
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If you are thinking of Avoiding Foreclosure, Short Sale or Buying a home in Northern California's Central Valley (San Joaquin, Alameda, Contra Costa and Stanislaus Counties - includes Stockton, Manteca, Tracy, Lathrop., Salida, Ripon, Modesto, Lodi, Hayward, Castro Valley, Union City, Fremont, Newark, Livermore, Pleasanton, Dublin and all surrounding cities). Call us at 866-543-0461 or email US (go to our website and email us).
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Goes without saying but maybe some out there doesn't think about it.