A Different Plan
Today, I took a call from a distressed homeowner calling from Virginia.
Her sale date is scheduled for tomorrow. She thinks.
Reportedly, she spoke with her lender on Monday and was told that the sale would be postponed for one day to allow her to submit the downpayment contribution and sign the forbearance agreement [on Thursday].
The sale was originally scheduled to be held today [Wednesday].
I asked her about the conflict of the signing of the agreement and the sale date…she became defensive. I asked if the postponement had been verified with the foreclosing agent. She said no. I asked if the lender had provided a new projected sale date. She said she didn’t know. I asked if she had a formal agreement in hand [a written offer from lender signed by her in acceptance]. She said no. I asked if she was sure the sale had not taken place today. She was adament that it hadn’t.
Why?
Because the lender whom she had last spoken with on Monday [and hadn’t heard from since]said they would postpone the sale for a day.
Is this making sense to anyone?
My recommendation was to 1. determine if the sale had actually been rolled over; 2. consider bankruptcy if the sale was scheduled to take place mid- to late- afternoon tomorrow. 3. trust common sense.
The caller fought with me a bit over whether the sale had actually been delayed. Her mind did not even want to accept the possiblity that it hadn’t. The caller fought with me over the feasibility of filing bankruptcy because …”it might upset her credit”.
The caller did not appreciate it when I said there is a reason the legal counsel she had sought prior to contacting Reinstatement Services had not taken her case. I told her they were hearing the same thing I was. She had no real standing.
She balked at this suggestion as to why 2 different attorneys had vanished and the third had told her..get this…” she had a case but he couldn’t help because …his practice was too busy”.
I told her he had refused her representation because he saw no money in the effort. She reacted as if I had stomped her crucifix.
Lessons anyone?
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