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adelarosa9 · Joined: 06 Mar 2010 Posts: 1 1.30 Dollars($)

Hi, thereIam 12,000 behind on my mortgage payments my house is schedule for sale(foreclosure) in 2 weeks I talk to the bank and they said they might do an forbereance agreement and they are asking for a 6,000 payment what should I do what if i send the money and they don't do the forbereance agreement is this a good idea and if i get the agreement would they reduce the interest rate or not thanks

Niicss · Posted: Mon Mar 08, 2010 2:56 am Post subject:

Reducing the interest rate is completely the lender's discretion. You should negotiate with your lender about signing a forbearance agreement with them prior to giving the said amount. This will safeguard your interest and may assure you of a forbearance.

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