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I have been through both sides of foreclosure: saving my home one time and having to give it up the second time around. During the process of saving it, I talked with my two lenders a lot. Here’s what worked for me.
Constant Follow-Up
While I was trying to workout a solution with the banks, I called them several times every week. I called them to make sure that they received my paperwork. I called them to make sure they received my payment. I called them to check the status of the workout arrangement. I called them to check when I should expect to be receiving documents. I called them when I received the documents. I did this in part to make sure that I stayed on their radar and that they did not forget about me. I also did it so that it would be recorded that I was talking to them to try to workout a solution to the foreclosure. The one thing I didn’t do that I wish I had was write down the details of each call like time, date, who I talked to, and the issues discussed. I had trouble with one my lenders and this log would have helped me deal with them more effectively. When issues came up, I could have at least told them who I talked to, when I talked to them and the information given to me.
Kept Copies
I kept copies of all documentation I sent and signed. I also kept receipts from all monetary transactions I had with my lenders. This turned out to be a good thing since one of my lenders lost my paperwork and even a bank wire I sent to them. I didn’t have to go back and redo all of the paperwork since I kept a copy. I just needed to make another copy and send it off to them. When they lost the bank wire I sent, I could easily tell them where it was sent, the amount, and when it was sent. This helped them locate where the missing money had gone.
Kept My Cool (most of the time)
Dealing with my banks during my foreclosure was frustrating. The process was an intensely personal one for me but I was just a number to my banks: an account number, loan amount, and foreclosure case number. Most days that I dealt with my banks, I was able to curb my emotions and deal with just the facts and figures that they gave me. Some days, especially when I was lied to or told one thing by one foreclosure rep at the bank only to be told something entirely different when I talked to a different foreclosure rep 10 minutes later, I lost it. Every time I talked to the representatives at my banks, I tried to remind myself that the person on the other end of the line was just doing their job. This seemed to help with one of my banks because the foreclosure rep treated me with understanding and respect the more that I talked to him.