Sign up to save your podcasts
Or
Share Escaping Foreclosure: Effective Strategies for Communicating with Servicers
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
Escaping Foreclosure: Effective Strategies for Communicating with Servicers
Welcome to The Foreclosure Fix Podcast, where our goal is to help one million homeowners successfully navigate foreclosure! In this episode, we have a special guest, Shante Duffy, joining us to share her expertise and insights on the foreclosure process.
Shante is no stranger to the world of foreclosures, having assisted homeowners and lenders in this complex landscape for several years. Today, we dive deep into various topics, from creative strategies homeowners have used to catch up on missed payments, to the importance of open communication with lenders and servicers, and the programs in place to help homeowners keep their homes.
With Shante's wealth of knowledge and firsthand experiences, we aim to provide valuable information and empower homeowners facing foreclosure. Listen to the advice in this episode and share it with someone who may benefit from Shante’s knowledge.
Key Takeaways:
- Communication with lenders and loan servicers is paramount when facing foreclosure. It is important to reach out to them proactively, explain your financial hardships, and inquire about available loss mitigation options.
- Applying for assistance programs promptly and staying in touch with the servicer regarding the status of your application is crucial. Delays in applying may involve other parties, such as the state, and prolonged delays may raise questions about seriousness.
- Bankruptcy should not be used as a last-minute solution to stop foreclosure. Foreclosure is a lengthy process that can take up to 12 months in certain states, and borrowers have ample time to explore other options and communicate with their lenders.
- Building a personal connection with lenders and servicers can potentially lead to more favorable treatment and assistance. Demonstrating honesty, transparency, and a genuine desire to resolve the situation can go a long way in finding solutions.
- When dealing with the death of a borrower, heirs should inform the loan servicer to ensure proper documentation and communication regarding the property. Depending on their intentions, heirs can either sign over the property to avoid foreclosure or continue making mortgage payments if they plan to live in the home.
Check Out Our Social Media!
YouTube
Twitter (X)
View all episodes
By DJ OlojoWelcome to The Foreclosure Fix Podcast, where our goal is to help one million homeowners successfully navigate foreclosure! In this episode, we have a special guest, Shante Duffy, joining us to share her expertise and insights on the foreclosure process.
Shante is no stranger to the world of foreclosures, having assisted homeowners and lenders in this complex landscape for several years. Today, we dive deep into various topics, from creative strategies homeowners have used to catch up on missed payments, to the importance of open communication with lenders and servicers, and the programs in place to help homeowners keep their homes.
With Shante's wealth of knowledge and firsthand experiences, we aim to provide valuable information and empower homeowners facing foreclosure. Listen to the advice in this episode and share it with someone who may benefit from Shante’s knowledge.
Key Takeaways:
- Communication with lenders and loan servicers is paramount when facing foreclosure. It is important to reach out to them proactively, explain your financial hardships, and inquire about available loss mitigation options.
- Applying for assistance programs promptly and staying in touch with the servicer regarding the status of your application is crucial. Delays in applying may involve other parties, such as the state, and prolonged delays may raise questions about seriousness.
- Bankruptcy should not be used as a last-minute solution to stop foreclosure. Foreclosure is a lengthy process that can take up to 12 months in certain states, and borrowers have ample time to explore other options and communicate with their lenders.
- Building a personal connection with lenders and servicers can potentially lead to more favorable treatment and assistance. Demonstrating honesty, transparency, and a genuine desire to resolve the situation can go a long way in finding solutions.
- When dealing with the death of a borrower, heirs should inform the loan servicer to ensure proper documentation and communication regarding the property. Depending on their intentions, heirs can either sign over the property to avoid foreclosure or continue making mortgage payments if they plan to live in the home.
Check Out Our Social Media!
YouTube
Twitter (X)