Will the lender sue the homeowner? - Loan Modification Forum

ohhhdear · 04-28-2009, 12:49 PM

Will the lender sue the homeowner if they let the house just foreclose or if there is a short sale?

I am trying to get a modification or restructure (PLAN A)--- but looking at plan B, just in case.

Thanks for any info.

Marshall Rosenbach Esq. · 04-28-2009, 01:48 PM

If you do nothing, then yes, the lender will file suit to foreclose. If you attempt a short sale, that will not stop the filing of the foreclosure complaint. Neither will loan modification discussions. The foreclosure will move forward during the loan workout process. So I always tell people to try to get their loan workout moving as quickly as possible and of course monitor and respond to the legal case. It's really best to contact an attorney to advise you on how to proceed once you get the lawsuit.

ohhhdear · 04-28-2009, 01:58 PM

Thank you for your reply.
I am on time with all of my payments, but I foresee a problem in the near future. If I am unable to get a modification and they do foreclose--do they just take the home or come after other personal assets?

04-28-2009, 12:49 PM	#1 (permalink)
ohhhdear Senior Member Join Date: Apr 2009 Location: Florida Posts: 268 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Will the lender sue the homeowner? Will the lender sue the homeowner if they let the house just foreclose or if there is a short sale? I am trying to get a modification or restructure (PLAN A)--- but looking at plan B, just in case. Thanks for any info.

04-28-2009, 01:48 PM	#2 (permalink)
Marshall Rosenbach Esq. Real Estate & Mortgage Law Attorney Join Date: Jan 2008 Posts: 88 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Will the lender sue the homeowner? If you do nothing, then yes, the lender will file suit to foreclose. If you attempt a short sale, that will not stop the filing of the foreclosure complaint. Neither will loan modification discussions. The foreclosure will move forward during the loan workout process. So I always tell people to try to get their loan workout moving as quickly as possible and of course monitor and respond to the legal case. It's really best to contact an attorney to advise you on how to proceed once you get the lawsuit. __________________ Law Offices of Marshall E. Rosenbach Please call me anytime at (561) 627-8990 www.FloridaLoanLaw.com The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Licensed to practice law in the states of California & Florida.

04-28-2009, 01:58 PM	#3 (permalink)
ohhhdear Senior Member Join Date: Apr 2009 Location: Florida Posts: 268 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Will the lender sue the homeowner? Thank you for your reply. I am on time with all of my payments, but I foresee a problem in the near future. If I am unable to get a modification and they do foreclose--do they just take the home or come after other personal assets?

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