ct foreclosure help
Foreclosure medeation?
i’m currently in foreclosure medeatiion in Ct with bank of America,they kept upping my monthly payment due to some missed payments due due economic woes,any advice to any angles i can use to keep my home,i do have a lawyer,i just wanted some advice.any help would be great,thanks.
Present your own, reasonable, plan to repay them their money. If you can not come up with something reasonable and legal you will lose this.
“economic woes” is not a legitimate reason to keep someones money. You might want to skip that line, it makes it sound like you feel entitled to just dip your hands into other peoples pockets.
You will not be able to keep both their money and the house. If you feel entitled to both this will not work.
Commercial Loan Modification Versus Foreclosure
A commercial Loan Modification is one option for business owners facing difficult financial circumstances. Commercial Loan workouts are often pursued after the business owner has already started missing their commercial Loan payments. Commercial Loan modifications are promoted as a safe alternative to foreclosure. However, a foreclosure is so devastating to the business owner, it should be considered financially irresponsible for the business owner and the lender to not pursue a commercial Loan workout before even speaking the word foreclosure. Unfortunately, the responsibility falls completely on the business owners to educate themselves and to seek the help of a commercial Loan Modification professional to walk them through their options.
Some business owners may not be educated on the harmful long-term effects of a foreclosure. They may be ready to throw in the towel, and they see a foreclosure as an easy way to just walk away. A commercial Loan Modification can give the business owner the time they need to sell their business for a profit. A commercial Loan workout can enable the business owner to avoid foreclosure, get lower monthly payments and turn a profit while selling a turn-key business.
Without a commercial Loan Modification, the lender will start the foreclosure process, which may include having a receiver come in and manage the business while the lender attempts to sell it and reclaim some of their investment. Receivers, however, do not provide the kind of high quality management a business needs to thrive. A business could actually drop in value while under the care of a receiver. The best way to avoid this nightmare is to contact a commercial Loan Modification professional at: Commercial Real Estate and pursue a commercial Loan Modification immediately.
