http://blog.foreclosure.com/2008/02/government-foreclosure-help/ Distressed Real Estate News and Opinion Fri, 29 Aug 2008 02:17:03 +0000 http://wordpress.org/?v=2.6 http://blog.foreclosure.com/2008/02/government-foreclosure-help/#comment-401 foreclosurefish Tue, 19 Feb 2008 20:20:31 +0000 http://blog.foreclosure.com/2008/02/12/government-foreclosure-help/#comment-401 The main problem with this whole plan is the 90 days preceding the time that banks will begin calling homeowners. As soon as someone misses a mortgage payment, the lender's collection department begins calling, essentially nonstop, until the homeowners simply ignore the phone calls. Making a few token calls after 90 days of this will not help homeowners, as the loss mitigation department's voicemails will be lost in the shuffle of constant collections department threats. The main problem with this whole plan is the 90 days preceding the time that banks will begin calling homeowners. As soon as someone misses a mortgage payment, the lender’s collection department begins calling, essentially nonstop, until the homeowners simply ignore the phone calls. Making a few token calls after 90 days of this will not help homeowners, as the loss mitigation department’s voicemails will be lost in the shuffle of constant collections department threats.

]]>