Are forbarance aggreements good with new lenders? I worked out a forbarance aggreement with my lender and then they sold the loan. I have been with my new lender sence March 1st and my per my forbarance aggreement with the previous lender my payment is due on the 25th. I recieved a notice on my door this afternoon stating that my home is being forclosed on and the sell date is in 18 days. I called the current lender and explained the situation and little response. They said that I now qualify for HAMP re-mod and I need to see if I can get the re-modification. They also said that they do not have a record of a forclosure sell date. What are my legal options at this time?

Your legal options are to contact a good, local real estate attorney as soon as possible and have him/her represent you with the new lender. If you have a fully executed forbearance agreement with the first lender there is no reason why it won’t be binding on the new lender. Typically, loan documents are assigned to the new lender subject to existing agreements between the parties. However, only a good attorney can give you sufficient advice after having reviewed your copies of the documents. No one can advise you with any credibility without having first reviewed your copies of the fully executed agreements.

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