In Washington State, folks that get behind on their house payments have options as described in the Foreclosure Fairness Act. The Act prescribes a series of steps to which a homeowner is entitled prior to any auction of their home.
One of the first steps a lender must take for a home in Washington is to send a letter to the homeowner describing their options – the first of which is the right to request an informal meeting with the lender before a Notice of Default is filed.
But here’s the thing … the homeowner has to make the request within 30 days from the date of the options letter.
- So … open every piece of mail that comes from your lender.
- Read it carefully and then exercise your option to meet with the lender to discuss the situation.
- Do it by phone and
askinsist that they confirm your request in writing.
- Follow up with a letter to them in writing — maybe even registered mail so that you have a record of your request.
- Keep copies of anything and everything you send and notes about every conversation you have with them.
- Get the names of the people with whom you talk … and write down the phone numbers and dates you make any calls.
and finally …
Engage an attorney to represent you at the meeting. Talk everything through with him/her … and with your real estate agent so that you know what your options truly are.
But first … Just Open the Mail!