1/20/2012
Negotiating to Stop a Foreclosure
Foreclosures offer many opportunities before, during and after the sale
By Jack Miller
If you go to foreclosure sales, the sale of many of the houses scheduled for sale is postponed at "beneficiaries’ request". This means that something has happened to make the lender think it is going to be paid off in full. Usually, when a loan is in default for a few months, the loan file is handed off to the "Loss Mitigation Department". When I hear of a lender staffing such a department, it sends a message to me loud and clear that the lender expects to take a loss, and the only question on the table is how much of a loss. I like to negotiate with lenders who have these departments... here's how
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