What are my chances a bank will work with me after a foreclosure has begun

UPDATED: Sep 30, 2022

Advertiser Disclosure

It’s all about you. We want to help you make the right legal decisions.

We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.

UPDATED: Sep 30, 2022Fact Checked

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

What are my chances a bank will work with me after a foreclosure has begun

We are in foreclosure but want to try to keep our home. We have enough income to pay double payments to catch up. We are currently $52,000 in arrears. We have opened a separate bank account to put payment directly into.

Asked on April 5, 2016 under Real Estate Law, Rhode Island


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

The bank is not forced to work with you, but it doesn't really want the property, unless there is a lot of equity in it; they'd rather be paid. You are suggesting a reasonable plan; there is a good chance they will accept it. Do not wait to put it or present it to them; have your attorney propose your plan to them before they spend yet more time and money (i.e. get more "invested" in) on the foreclosure.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption