Tim Collette of Bend, Oregon is about to lose his home. Chase bank is scheduled to foreclose his home on June 20th. His son, Aaron, who is stationed in Iraq, is going to have leave in August, and all he wants is to sleep in his own bed and rest.
Public officials are working hard to help Tim keep his house by guiding him through the complex mortgage modification process. Without a modification a person may need a foreclosure attorney.
The elder Collette purchased his home in 2006 and put $100,000 down to avoid high monthly mortgage payments. When the economy began to fail Tim, who is a specialty contractor, lost his job. In his effort to head off the inevitability of foreclosure, he contacted Chase in 2009, which entered into a forbearance agreement with him, this was only a temporary solution.
Tim Collette was told by the bank that he had to miss a couple of mortgage payments in order to qualify for modification. After a year and a half of requiring him to basically jump through hoops, they denied him loan modification. This is a familiar story for thousands of homeowners who hire foreclosure lawyers to keep them in their homes.
Senator Jeff Merkley of Oregon has been working to find a solution for Mr. Collette. Representatives for Chase have stated they are also working with Collette on finding a solution, but sent a foreclosure notice anyhow.
Unfortunately, Tim Collette is among the many homeowners who have experienced the same issue with modification, which banks often deny. A foreclosure attorney may be the final solution for ailing homeowners who just want to keep the home they worked hard to obtain.
