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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Help with potential foreclosure Posted by Mike on March 25, 2008 at 8:05 AM In Reply to: Help with potential foreclosure posted by Brad on March 22, 2008 at 8:34 PM : I need some help with info on the foreclosure process. My parent in their 70's are : current on their mortgage with Washington Mutual, however they are unable to afford : there payments and I can no longer make for them. They are probably break-even on : the property if they could sell it(highly unlikely in their area, Palm Springs) My : questions are: Is there anything they should be doing to better prepare for stopping to : make payments? Are assets like a car at risk in a foreclosure? Should they tell the bank : to see if they want to renegotiate their loan? Also their townhome is on leased land, : should they continue making the land payment and homeowner fees? Anyother advice : is appreciated. : Thanks Definitely call the bank, loss mitigation, tell them situation and keep pressing till you get someone w/ a brain in their head. Tell them it's going to become a nonperforming loan if they can't help you - they will. Mike Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : I need some help with info on the foreclosure process. My parent in their 70's are : : current on their mortgage with Washington Mutual, however they are unable to afford : : there payments and I can no longer make for them. They are probably break-even on : : the property if they could sell it(highly unlikely in their area, Palm Springs) My : : questions are: Is there anything they should be doing to better prepare for stopping to : : make payments? Are assets like a car at risk in a foreclosure? Should they tell the bank : : to see if they want to renegotiate their loan? Also their townhome is on leased land, : : should they continue making the land payment and homeowner fees? Anyother advice : : is appreciated. : : Thanks : Definitely call the bank, loss mitigation, tell them situation and keep pressing till you get someone w/ a brain in their head. Tell them it's going to become a nonperforming loan if they can't help you - they will. Mike [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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