This Is Your Mortgage Servicer Calling

QUESTION:  After the bank’s attorneys started a foreclosure action to take my home, the mortgage loan servicer started calling me several times every day.  So far I have avoided their calls.  Should I speak to them? 

ANSWER:   No.  A mortgage loan servicer is nothing more than a debt collector, and speaking with debt collectors can only hurt you.  When dealing with collectors, it is important not to seem interested in resolving the debt.  If you seem interested, they conclude that you have something to lose and focus on you.  You want to make a debt collector think you are broke and don’t care what happens.  This causes them to conclude they are barking up the wrong tree and to leave you alone.  Nothing works better than refusing to speak to them.

Harassment by the servicer is one of the methods that foreclosure attorneys use to gain a psychological advantage and measure the “borrower.”  The debt collector for the servicer cannot resolve the foreclosure case.  The case is in court and legal decisions are being made by attorneys.  However, the servicer can still call you constantly and try to make recordings of harmful statements for the bank’s attorneys to use against you at trial.

In a foreclosure case it is important for the homeowner’s attorneys to demonstrate that they are prepared to take the case to trial.  Only the prospect of losing at trial will cause the bank’s attorneys to make an advantageous settlement offer.  Otherwise, they will litigate the case as far as they can, making plenty of money while causing you to run out of money to fight them.  The servicer’s job is to help the bank’s attorneys take your home.  Don’t talk to them.

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New York, New York 10025
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Important information:  This is legal advertising.  It contains no legal advice and makes no representation as to the outcome of any legal matter. The information on this blog and website may not apply to your individual situation and should not be relied upon for any purpose.