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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Postponements Posted by SeanW on February 07, 2004 at 11:32 AM In Reply to: bankruptcy posted by Walter on February 07, 2004 at 8:49 AM : 3. What motivates the Bank to even consider postponing a sale to help the homeowner, after the homeowner has been thwarting the Bank by filing bankrupcty? Banks have many reasons, to persue every avenue other than foreclosure. These reasons remain true whether or not a BK has been attempted. It's all about motivation. I have seen banks postpone month, after month, after month. Other banks are tough. They postpone one week, and then proceed to sale. My observation is that banks will be tough they have FHA insurance, or if it's a recently-drawn loan. When it's an old mortgage, the bank may figure the home owner is comitted enough to try a workout... If a new mortgage goes bad, the presumtion is that it was not a loan that should have been made in the first place, and they just want to get out of it. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : : 3. What motivates the Bank to even consider postponing a sale to help the homeowner, after the homeowner has been thwarting the Bank by filing bankrupcty? : Banks have many reasons, to persue every avenue other than foreclosure. These reasons remain true whether or not a BK has been attempted. : It's all about motivation. I have seen banks postpone month, after month, after month. Other banks are tough. They postpone one week, and then proceed to sale. : My observation is that banks will be tough they have FHA insurance, or if it's a recently-drawn loan. When it's an old mortgage, the bank may figure the home owner is comitted enough to try a workout... If a new mortgage goes bad, the presumtion is that it was not a loan that should have been made in the first place, and they just want to get out of it. Optional Link URL: Link Title: Optional Image URL: [ 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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