Can a bank threaten foreclosure, when you are in the middle of a loan modification? 10 pnts?

sure can if yo are behind

Yes they can.

Yes but I do not understand why they would unless your loan modification is with another bank. Perhaps the bank doesn’t know what different parts of it organization are doing. I would call the people who sent you the warning and advise them that you are in the process of modification of your loan. It is also possible that they want to make sure they give you proper warning in case the loan modification does not go through.

Of course they can. If you’re behind on your payments then foreclosure is always an option to the lender.

The mod and the foreclosure are most likely handled by different offices of the lender. They are separate issues. If you don’t succeed with the mod, the foreclosure will go through. If the mod does go through and you bring the loan back to current status (or at least less behind that would normally trigger foreclosure) then the foreclosure will stop automatically.

Foreclosures always march on despite what goes on around them. You could avoid foreclosure for the rest of your life if they halting every time to started some program.

You need one that will complete before the foreclosure does.

The “going through somebody” sounds like you are being taken to me. The only “somebody” that can modify your loan is the actual bank that holds the mortgage.

Yes they can still threaten foreclosure since so far all loan modification has done is postpone the D day by about six months. I feel for you. but that is the truth of it unless they extend the term of your loan to make the payments more affordable to you.

They can threaten all they want. The fact of the matter is certain legal proceedings will take place to notify you. Foreclosure doesn`t happen immediately it is a process. My advice is to call the customer service number and speak to someone directly. Tell them about the loan modification, speak with their lending department if necessary. You will need to find out their policies on behind payments, foreclosure and modifications. Tell them the situation. Also, make sure they understand the late payments are to added on the back of your loan.

Get the names and extensions of everyone you speak with. Make sure you note the date and time of the conversations and make a note of the subject matter. Keep a log for your personal records.

Call the company handling your modification. Make sure they are doing their job. Ask if they gave your loan company notice of the modification. Although, you still should be making payments.

If you are getting nowhere with either company on the telephone call around and ask a lawyer to make some calls for you. You may have to give a retainer but at least you won`t loose your home!