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Foreclosure: Six Things NOT to Say To Your Bank

There are things to say to your bank and things you shouldn't say!

Here are the top 6 things to NOT say to your bank! Better still, just call us.  We are a team of certified Short Sale, Foreclosure Agents.  We can help you with the process and get it all done in such a way that the bank will approve it!

  • What NOT to say:
  1. "I don't want to make the payments anymore!"

    • It's better to focus on the hardship you are facing and be ready to document it.
  2. "I want a Short Sale" or "will you do a short sale?"

    • Usually the bank will not even discuss the short sale issue until you are behind on your payments.
  3. "I will file for Bankruptcy if you don't accept a short sale!"

    • Banks don't respond very well to threats and the bankruptcy proceedings will hold up the banks ability to short sale the property.
  4. "You will get nothing if it goes to Sheriff's sale."

    • It pays to be nice to the banks! If your property has more than one loan, you will probably need to be late on both loans before either lender will talk to you about a short sale.
  5. "Let me tell you about the market here"

    • The banks are well aware that the market is bad. You will have to document this in some way and the bank will have their own appraisal done.
  6. "How much will you take? What's your bottom line?"

    • The bank isn't going to tell you any of this, they just will wait for an purchase contract!

If you find yourself in a situation described above, please call us, we can help!  We can be reached at 513.766.3888 or you can Email The Meadows Team.