Facing the WHY’s Behind Lenders and Their Actions

Facing the WHY’s Behind Lenders and Their Actions

After talking with struggling sellers for years, the questions why lenders do what they do come up in every conversation:

  • Why won’t my lender give me a break and reduce my loan?
  • Why won’t my lender just give me a few months and I’ll get caught up?
  • Why don’t lenders send people a certified letter when they are going to foreclosure/sheriff sale?
  • Why do they give me the run around?
  • Why aren’t there other options for me in my tough financial situation?

The questions are endless and always start with WHY. We can speculate why on each and every question and you might find some answers, but they are always subject to change, so my WHY question is: Why try to find out the answers to the “Why’s”?

They are only voiced out of frustration and even with the answer, it isn’t going to solve your issue and find a solution. Besides, you aren’t going to like the answers anyway.

Let’s look at the question so often asked: “Why won’t my lender give a break and reduce my loan?” Here is the black and white answer. You are asking the very same people that you signed a contract to reduce that contract. Why would they do that? The Bail Out Money was put into place in October of 2009 to relieve the lenders, not borrowers. Those who saw the writing on the wall, even back then, were yelling “Everything for Wall Street but what about Main Street? They are destined to struggle with no relief.” Borrowers are the Main Street and those prophetic words have proven to come true. Every time a short sale is done or lender owned home is sold, they get money. If they reduced your loan, the lenders would be getting less of a percentage per property. There is absolutely no incentive for them to reduce the amount you owe them. Is this painful? Heck yes, but we do have solutions. Read on.

The rest of the WHY questions can be answered easily: As long as they are allowed certain guidelines in order to collect their money from the government, they will be doing all the frustrating acts that don’t add up to a win for borrowers.

Having said all that, put away the WHY questions and let’s get to solutions for your situation. Let’s move on to a place where you financial future can be protected and you and your family can find some relief. There are options to relieve your anguish and it is a specific dance that we have learned the steps to. Call us and find out what your options, rights and responsibilities are, before it is too late to help. We are here with the knowledge you need.


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