subject: Working With The Bank To Save Your Home From Becoming Atlanta Foreclosed Homes [print this page] If you have missed a payment or two on your mortgage and fear your home will become one of the many Atlanta Foreclosed Homes it is important that you work with the bank to save it. You can save it and there are many reasons why.
Banks do not want to own properties on their books as assets. Many people think that the banks want their houses and they are going to kick them out right away. This isnt the case. This actually couldnt be further from the truth when it comes to the banking business. Banks need and want the money back they gave for a loan. They are in the cash and loan business, not real estate and housing. If you call the lender and tell them that you are going to miss a payment before you actually do or after you have they will have more respect for your situation and work with you.
The biggest mistake that borrowers make is that they do not communicate with the lenders and tell them their financial situation because they are too embarrassed about it. Lenders appreciate the call and they will work with someone who remains in constant contact with them rather than someone who refuses to answer their calls. When a borrower refuses to answer the phone because they are embarrassed the bank assumes that they dont want to save their home.
Banks do not want to own Atlanta Foreclosed Homes because it looks bad on their books and they lose too much money with the property. Banks want to get the money and if they know you want to save your home they will do everything they can to help you. Always work closely with the bank if you are serious about saving your home.
by: Joseph Smith
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