My home is in foreclosure. My foreclosure atty. requested a mediation with the mortgage co in Sept. 2010. To date nothing has been done. No mediation, no response. Recently, I settled with my insurance company for a sink hole claim. It is about enough to cover what the value of the home is with a sinkhole and the market decline. Can I use this settlement as a negotiating tool with the mortgage co if they will mediate? Also, there is a 2nd mortgage from another lender that is a charge off to the bank. Can they still come after me for that?
1 Answer from Attorneys
These are questions that absolutely must be answered by your current attorney. Anyone on this site, including me, could give you generalized advice. But your attorney should know your individual facts and circumstances to the point that he or she could quickly answer these questions.
If your attorney cannot answer these questions within a reasonable time, you should seek new counsel.