I had to write this. In the past week, three of my girlfriend's friends have called me frantically stating that "I just got a 48 hour vacate notice!!!! What do I do???". Turns out that all three people had been working on loan modifications!!! I asked them all, how did you go from doing a loan mod to getting a vacate notice? One told me that she was making payments, but the bank said that they wouldn't talk to anybody about a loan mod unless they were missing payments, so she said "Fine, I'll just stop paying my mortgage to work on the loan mod!!" WHAT ARE YOU THINKING!!!!???? They weren't making payments either because they thought that shouldn't be or wasn't able to make the payments, but they had no plans on possibly having to move out if it didn't work!!
Listen.......If you're not paying your mortgage, you should be saving that money that were paying on your mortgage and have a security deposit, pet deposit, cleaning deposit, first and last month rent in place just in case whatever it is that you think you're working on doesn't go through. Sure enough your deal will go on and on and on for months and then one day out of the blue, the bank will say, "Nope we can't work out your modification and being that you haven't made a payment in 6 months, you have a sale date of "Insert date here" Have a nice day". It amazes me to this day that you can knock on someones door that hasn't made a mortgage payment in at least 6 months and they've been working the whole time and they haven't saved a dime towards moving!!! How can you possibly do that. One of the people was actually talking about painting their child's room!!!! In a house that they hadn't paid on in over 6 months!!!
Stop the denile............if you haven't paid your mortgage, but ready move out. Remember PLAN FOR THE WORST AND HOPE FOR THE BEST. At least you'll be ready in the worst case senario.
Bryan Knight, Las Vegas REO specialist
Follow me at www.twitter.com/KnightREO
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