stopping foreclosure, loan modification companies Last night, while watching the evening news I listened to a distressing story about a family’s struggle stopping foreclosure which should have been avoided if it wasn’t for how backed up Loan Modification companies were (not all some). The story went a long time husband and wife who had raised their kids in the same house they were now living in had fallen on some tough times. The husband lost his job and was not able to make the monthly payments anymore. At this point, one of the largest lenders in the country mailed out an auction notice. They had so and so time to cover what they owed or their home was going to public option.

Turns out the husband put his home up for sale and sold it that same day for a decent profit. It was enough to cover the mortgage and come away with enough money to get another place. The problem was stopping foreclosure from this point. The big company ready to hold the auction was impossible to get a hold off to tell the house had sold. They in a statement said were too busy to know about the sale and freeze the auction. The auction ended up happening and someone bought the house for the second time. Now it is in court. Loan modification companies are backed up so stopping foreclosure has to be a persistent, quick process nowadays.