Disabled, I have tried negotiating with this lender for forbearance on a foreclosure sale. They advertise they want to do workouts if a borrower is having trouble but beware: they want financial statement and other information about you but have little interest in actually doing a fair deal.
This lender sent me a "Repayment Agreement" that contained a deadline to cure in it I could not meet, poorly crafted language that gave me no assurance the sale would be continued at all and a promise that I would nevertheless give them a large sum of money up front.
The gist of the agreement was that I could give them $7000, they would take my money and then foreclose anyway. I wouldn't sign it and now the house is going to sale. I told them if they wouldn't commit to continuing the sale, I would need to use that money to get myself another dwelling.
I counteroffered, $7000 now, full house payment in November and thereafter, $3000 after Thanksgiving, and the final cure when I get my retroactive SSDI. The house is appraised at $163,000 and my loan balance is $94,500. No go. They want the house. This is a bad lender, go elsewhere for your mortgage loan.
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