Mar

9

My neighbor friend is loosing his home to foreclosure, is it true that his bank can help him w/money to move?

Filed Under Home Foreclosure 

Beverly Garland asked:

He’s asking me to help him investigate some things, he is in under serious stress and financial distress, I called someone for him and this guy told me on the phone that if he speaks to the lender just before the home gets auctioned off, and lets them know he is really trying to move but doesn’t have any money to do so or family, he said the lenders give around 2,700 to $ 3,500 dls is this true?

Allie


Related Forclosure Information

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Comments

6 Responses to “My neighbor friend is loosing his home to foreclosure, is it true that his bank can help him w/money to move?”

  1. ProfessorC on March 10th, 2010 6:07 am

    Antone

    He could voluntarily turn the home back to the lender and save them the foreclosure costs. They might be willing to give him a few dollars to move out. Saves them in the long run.

  2. I_Love_McRedneck on March 10th, 2010 9:14 pm

    Charlette

    If it SOUNDS too good to be true, then it usually IS

  3. JUST ME on March 11th, 2010 4:25 am

    Joan

    Possible but very unlikely.

  4. linkus86 on March 11th, 2010 5:43 am

    Cody

    What you heard is a big fat lie. But, there are people out their who buy pre-foreclosure houses (aka “WE BUY HOUSES”) that usually buy for the loan amount plus a few thousand more to ease the transition of moving. I bet if you look in the yellow pages of the city you are in you might find such an investor.

  5. Mary B on March 11th, 2010 5:27 pm

    Nikole

    That is an animal that doesn’t exist.

    I have seen alot of posts on that issue, and it just simply isn’t true.

  6. Leo F on March 13th, 2010 11:35 pm

    Frank

    No NO NO!!! The lender is in the hole already from the foreclosure and is not going to dump in good money after bad. The prop taxes have not been paid out of the Mtg payment, so the lender had to pay them out of pocket. The lender does not care what happens to the homeowner and it not his job to care. Lender are not welfare. If he is still in the home when it goes to auction and it sells the new owner will get the sheriff and him and his stuff will be on the street. If it does not sell the same thing will happen.