Many couples simply want to modify their home mortgage loans and are confused when it comes to the best way to get their loan refinanced. One couple was told by a Chase Bank employee to miss a loan payment. The employee told them if they missed a payment, they would be eligible for the loan modification program Chase Bank offered. After missing a single mortgage payment, the couple found they were ineligible. They thought they were simply doing what it takes to delay foreclosure.

Problems continued for the couple, when the bank refused their single missed payment and proceeded to foreclose on their house. The husband suffered a heart attack and died, leaving the widow to have to find a new place to live. Chase Bank foreclosed on the house, changed the locks, and the house sat empty.

Widow and family that is doing what it takes to delay foreclosure, files suit

The couple had committed no crime, other than they got lost in the maze of Chase Bank procedures. They were only trying to avoid foreclosure. After her husband’s death, the widow decided to sue Chase Bank. She may have been too late to do what it takes to delay foreclosure. She could save other homeowners from the nightmare she endured, lost in a maze of misrepresentation on the part of at least one bank employee.

It may be too late for her to save her Texas home. It may help though if families understood what it really takes to delay foreclosure and save their homes in the process. What do you have to do when trying to delay a foreclosure?

Get representation from a third party and do what it takes to avoid foreclosure

A representative can speak to Chase Bank on your behalf, but clients need authorization documents on file. A bank employee will not discuss any customer’s account with a third party. Clients must sign and copy authorization slips first. Without specific permission, the bank cannot discuss details with third party reps trying to help Texans save their homes.

The widow’s troubles were not the first time borrowers. It may not be lost on any Texas borrowers, who may feel disillusioned by bank representatives’ advice. If you have an investor, it may be easier to get through the process of stopping foreclosure. An investor needs to give the bank mortgage holder the loan number and six numbers of a borrower’s social security number. Then, the investor can try to do what it takes to delay foreclosure.

Big mistake some mortgage loan customers’ make

If you do not have the proper paperwork, it may be hard to do what it takes to delay foreclosure. The travesty is not only making the process longer. It increases the chances you will not win a foreclosure case, if you do not have the right documentation.

It can also affect clients’ ability to get out of a bad financial cycle. Clients that have the money to make a gift to their investor to pay a mortgage payment, they may help get out of debt. By ‘gifting’ the money, a client does not have to pay tax on the payment. Otherwise, the tax may be deferred or clients could be charged at a higher tax rate. An investor helps clients win and do what it takes to delay foreclosure. They know the foreclosure laws in Texas. Another advantage of working with an investor to track funds is it is easy for couples to account for money in their account. Banks are not allowed to take a client’s explanation of where couples’ get funds. It is not enough for a bank employee to access to your bank account and see your payment history. A bank employee must verify where those funds originated, as well.

What does it matter where a couple gets their funds? The origin of the funds may help government officials decide if the funds can be taxed. They may be able to be used toward getting a home loan modification or if you are in the process of getting a foreclosure delayed. An investor, who is trying to do what it takes to delay foreclosure, will get the verification within two to five business days.

Best way to avoid foreclosure is not to panic

If you want to need to hire an investor to help you avoid foreclosure, there is no shame. Mortgage lenders, such as Chase Bank, want borrowers to have a foolproof plan. The goal is to lower the number of Texas foreclosures and loans. In the process, an investor can help you do what it takes to delay a foreclosure.

Call it the old one, two punch, but it is possible to avoid foreclosure? Does it help if  you know what it takes to delay a foreclosure? If you have defaulted on a mortgage before? Chase Bank wants to help homeowners stay in their house. They want to make sure borrowers will not default again on making the mortgage loan payments or on a new mortgage loan.

Doing what you can to delay foreclosure is not an exact science at times. It is an opportunity to save your home if you do fall behind on a mortgage, do not give up. It is possible you can avoid a foreclosure. Organizations, such as Save My Texas Home, have helped hundreds of Texas families save their homes. It is a good option for homeowners who want foreclosure alternatives; they do not know where to look. This organization works with government and non-government agencies. If you need help saving your Texas home, you can call Save My Texas Home, today, at 512-271-5044. You can also visit them online at www.savemytexashome.org.