BANKS ADVISES ELDERLY LADY TO OBTAIN ROOMMATES TO AVOID FORECLOSURE
I hosted my weekly live real estate talk radio show here in Phoenix, Arizona. I allow people to call in to make live comments or to ask questions related to real estate and mortgages. I have been doing this for the past four years. I am always amazed of who calls into the show. I had an elderly lady call into my show asking for assistance in finding roommates. She explained she is in a trial loan modification and missed some payments. However, she is current. She continued to say it is getting tougher to make her monthly mortgage payment. She called her bank who holds the mortgage note to explain her situation.
The bank informed her that she might want to think about renting out her other rooms to keep the mortgage current or she will lose her home. How can you tell grandma to get roommates? Are banks really telling people to rent out the other rooms to keep the mortgage current. Have other people heard of such advice from banks?
Love to hear some feedback on this one.
Make the Call, Set the Plan, Do the Deal$!
Feel free to listen to my Radio Show to learn more about the phoenix real estate market, new trends, and the latest opportunities. The Real Estate and Beyond Radio Show Airs every Saturday from Noon-2:00pm on Conservative Newstalk KKNT 960am in Phoenix, Arizona. You can listent to past shows, or stream on-line.
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