Let me guess…………this family tried unsuccessfully to work out a loan modification and ended up being served foreclosure papers by a bank who was not part of the loan modification negotiations. Then, while trying to sort all that out, the first bank is informed of the foreclosure action by a different bank and instead of assisting in clearing up the confusion, they stampede in with a new foreclosure lawsuit to “protect their claim on the collateral”.

Now, to all you who buy the “deadbeat” or “bought more house than they could afford” propaganda, who would you pay in such a scenario? Both? One? Neither? Pay one and allow the other to foreclose and evict you from the home for which you are paying? Attempt to modify one? Attempt to modify both?

I’m sure these bank and mortgage servicers are more than accommodating when their customers call with this confusing and frightening situation.

ForeclosureHamlet.org