Loan Modification Denied - Not Enough Time

chased

LoanSafe Member
#1
Hi!

So I was in the process of applying for a loan modification, I sent in my paperwork on April 22 and then again on April 30 and again May 8. They extended the sale date in May to June 27. I received a letter today saying that they cannot approve a modification because there isn't enough time to process the paperwork. Funny, because when I was working with them in December, they said they needed at least 14 days to complete the review for a modification. We are still more than 14 days out of the foreclosure date. I need some help here, can anyone help me?

Thanks!
 

Erik Sandstrom

Mortgage Expert - Call 1-619-379-8999
Staff member
#2
Have you thought about filing emergency bankruptcy to halt the sale of the home? That would be a last ditch effort I would guess to try and save the home from going into foreclosure. Once BK is filed that might give you some time to negotiate with them for a loan mod.

*I am not a real estate attorney, I always recommend reaching out to one prior to making any decisions