If you have no idea where to start with mortgage mediation and you’re on the brink of losing your home, there are options and steps to take immediately in order to save your home and reduce your mortgage.
Many people may not even know about the Washington State Fairness Act. This is largely due to the fact that banks and lenders won’t tell homeowners their rights and options and simply let the home fall into foreclosure.
Most banks want to push foreclosure out beyond the first of the year so over the last 6 weeks many of these notices have gone out, more than 3 times the amount we saw in summer. For those that are receiving, I notice now they will be foreclosed on until February or March. This is because lenders don’t want to be the bad guy around the holidays. The Washington state fairness foreclosure act forces banks to come to the table with the assistance of an attorney or a housing counselor in order to modify or mediate the current mortgage. Not even the state will inform people about it because they just don’t have the money to advertise this law, so many homeowners lose out on their home when that could be saved the mortgage mediation.
Read More about how to get started with a mortgage mediation or contact a lawyer now