Helpful Hints for Foreclosure Mediations
Want to have a good meeting with the bank? Start Here:
1.) Make sure the document package that you submitted to the bank was received & is complete at least 1 month before the mediation.
2.) Put your Loan number & date on each page. (Except for the IRS 4507-T).
3.) Approach the meeting as if you were applying for a new mortgage - clean up your credit & debts. Bring a recent P&L, set of Bank Statements, Pay Roll Stubs & Tax Returns with you to the mediation.
4.) Dress for Success.
5.) If you spoke with someone at the bank, make notes including their Name, Phone Number and Extension.
6.) Most banks have a Home Retention Department - call them 2 weeks before the mediation and ask: "Are there any additional things I must do before the mediation?"
The Better you Prepare - the Better the Mediation will Go!