As a foreclosure lawyer, I know how important keeping your home can be. So when I hear of a story involving a home in peril that had a happy ending, it does my heart good.
Recently, I heard of a Desert Storm veteran, Brendan Cameron, who was able to work his bank to get a mortgage modification after the foreclosure process had already begun. The modification allowed Brendan and his wife Janette to keep their Middletown home in the face of foreclosure. The couple fell behind on their mortgage when a mysterious illness – possibly Gulf War Syndrome – forced Brendan to stop working. Janette had to stop working to take care of Brendan. The couple was four or five months behind in their mortgage payments when the bank started the foreclosure process. That’s when a nonprofit veterans group called Till Duty is Done got involved. They helped the couple improve their financial situation which in turn helped them get a mortgage modification from the bank. The modification allowed them to stay in their home. They can now put their full attention to Brendan’s multiple medical challenges.
What are the lessons here? The right kind of help can have a profound effect on your chances of getting a bank to issue a mortgage modification. But that needs to be done the right way and you need to involve experienced professionals as soon as you learn the foreclosure process has begun. Ignoring the papers doesn’t help. It can only make resolution more difficult.
At least, for this one couple, the process turned out well. And, as someone who’s spent much of my professional life in mortgage defense, it’s a story I like to hear.