Could it be that more than 50 percent of all people in foreclosure loose their investment because they can not utilize the mortgage banks phone system? When we are working with a home owner in foreclosure or bankruptcy to sell a piece of property we first begin by evaluating the phone system. If you are delinquent and behind in payments your account number can be flagged for collections. Like most automated systems you are requested to enter in personal information which will usually include your account number and or social security number, this is to route your call to the appropriate ( or sometimes not so appropriate) department. Mortgage companies have two different departments with two specific responsibilities regarding your loan, Loss Mitigations and Credit & Collections. Once you have reached the collections department typically you are not going to get an opportunity to negotiate your situation ending with a favorable out come. However, if you hold out for a live person with out revealing your personal information and request the Loss Mitigations Department, you have a chance to speak with some one who's job is to negotiate with you the terms and arrangements of your loan and explorer a the possibility for grievance or grace period. This should establish an avenue to salvage your loan and avoid a foreclosure or bankruptcy on your credit report.
Amy J. Maples
Baskin Team Real Estate Specialist
918-260-5522 (Cell)
918-259-5804 (Direct)
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