Home Buddies - Houston Credit Repair Coach for Investors and Homeowners

The Mortgage Loan Modification continues…

We were able to successfully get the homeowner’s scheduled Foreclosure Sale Date of November 6, 2007, to be put on hold while they are being reviewed for a loan modification. However, we know that a foreclosure can still be placed at any given time!

November 13, 2007
The November Foreclosure Sale date has passed, and the homeowner’s foreclosure is still on hold at this time. Our newest update on the status of the loan modification request is that the negotiator has found several liens on the property. This is going to cause a delay in the approval process.

November 14, 2007
The negotiator has called and informed us that we need the homeowner to confirm if the liens belong to them or not. They tell us that they are certain that the liens do not belong to them. So the negotiator decides to run a title search again.

November 27, 2007
We call to confirm that the Foreclosure is still on hold, because we are aware that another Texas Foreclosure Auction date is coming up on December 4, 2007. We do not want the homeowner to be placed in this Foreclosure date.

Several weeks have gone by now, and the negotiator is still finding a lien on the property over $40,000. This information shows several ‘names’ on the lien. So we will need the homeowner to verify and confirm who is who, because a different female name appears on the documents.

The negotiator faxes documents to get the client to review and turn back in that verifies that the lien DOES NOT belong to any of them, so she can approve the loan mod!! They will need to sign an affidavit if they truly believe this lien does not belong to any of them.

November 28, 2007
The homeowner has reviewed the documents and has signed an affidavit stating that the lien does not belong to the husband, the wife, or the daughter. It is at this time that we are informed by the homeowner that the daughter’s name is the one showing on the documents. No wonder things were getting so confusing again.

December 4, 2007
Today was another Texas Foreclosure Auction date, and our client’s Foreclosure is still on hold. We all can breathe a little easier for the moment. We know that the next Foreclosure Auction date will be on January 1, 2008.

We all are still waiting anxiously to get this loan modification approved. We call the negotiator and the newest update is that she is still waiting for the title report to come back. The foreclosure is still on hold.

December 11. 2007
We speak with the negotiator again, the title has not cleared. This is still the only obstacle that is keeping the loan modification from being approved. The foreclosure is still on hold.

December 28, 2007
We are still getting weekly updates on this file. The negotiator is still working through the title issue, so no loan modification has been approved yet. Foreclosure is still on hold.

Januray 1, 2008
We call and confirm that the homeowner’s Foreclosure is still on hold. We have successfully passed through another Foreclosure Auction. And we all are still waiting for the title issue to be resolved.

January 7, 2008
We call again for the newest update. They finally got their Loan Modification approved! The documents have been sent out today to the homeowner to sign and returned by January 11, 2008 with certified funds of $658.29.

We inform the homeowner, and of course they are certainly grateful and appreciative of all our time and effort.

Our Mortgage Resolution story is now closed.

Barbara Partaka
Home-Buddies