My friend’s mother is very close to losing her home out in Buffalo, NY. The bank called their mortgage due in 30 days. That period of time has passed. Can they get an extention on those 30 days?
How could creative investing come into play here and salvage this poor ladies home?
Any and all help would be greatly appreciated.
Thanks!
Manny
I assume that the motive behind your question is in helping your friend’s mother save her house.
Your friend’s mother needs to contact the lender’s default department immediately.
[]If she has the ability to contribute a little extra each month to make up the arrearages, she needs to ask about a workout plan.[]If she now has the ability to resume her normal monthly payments, but does not have anything extra to contribute to the back payments, she needs to ask about a forebearance agreement.
Doing nothing for the past 30 days only exacerbated the situation.