[WSBARP] 3rd Party Mortgage Cure?

[Erik Marks]

Client's brother owns home with one mortgage on it, LTV of about 25%.  Clearly there is significant equity.   Client recently found out the mortgage is in foreclosure, with the sale date in late July.  Client does not know why brother is neither paying mortgage, nor dealing with the foreclosure process; he does not talk about it.  Mental health issues are suspect, but those cannot be solved in time to stop the sale.

 

Client wants to find out cost to cure, and pay it.  And thereafter make ordinary monthly payments on the loan, until she can help her brother get things sorted out.  

 

The challenge is that client is not the borrower, and borrower has not asked/authorized lender to work with client.  So, my question to the group is: do you think the lender (US Bank) will cooperate to allow a 3rd Party to cure the mortgage default?  And any suggestions how to get in contact with US Bank to discuss, other than calling in through the 1-800 front door phone lines?

 

Thank you for any insights you may have.  

 

-- 

Erik G Marks 

Attorney at Law 
2255 Harbor Ave SW

Suite 203

Seattle, WA 98126

 

office: 206-264-4598 
cell: 206-612-8653

erik at egmrealestate.com

 

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