Posted on: 28th Aug, 2009 10:11 pm
I have a second home that was under construction. The home has lost about 60% of its value and the lender is going to send the home into default do to the fact there has been no work complete on the home, but all payments are current. Will they take the keys back on a home that is 90% complete?
Hi Confused,
If the lender forecloses the property, then they would take back the keys of the property. However, you should try and negotiate with your lender so that you can save your property. If the lender is convinced about your financial crisis, he can help you with a re-payment plan which will help you in paying off the dues.
If the lender forecloses the property, then they would take back the keys of the property. However, you should try and negotiate with your lender so that you can save your property. If the lender is convinced about your financial crisis, he can help you with a re-payment plan which will help you in paying off the dues.