You need to tell your customers and clients to contact the lender as soon as you realize that they have a problem making the notes.
The lender doesn't want to take the house .
They're there to try to help them find suitable options to help them get through the most difficult financial times, review those options and try to determine just what is best to meet their needs when they meet these difficult crossroads.
How do you deal with it?
I keep hearing over and over that banks want to work with their clients, yet when I talk to those who have worked with clients in this situation, the story is exactly the opposite. In the past week, I cannot tell you how many people I have talked with in regards to networking and most of them have pointed their finger at the banks as a major problem in regards to the foreclosure situation.
Homeowners don't know the rules for negotiating with the banks and lending companies, and they talk to the collection people....whose job it is to collect. The results are predictable.
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