Foreclosure and negotiations for a loan modification are two separate
processes. Do not mistake one for the other. If your home is in foreclosure,
negotiations for a loan modification will NOT by itself stop or slow the
foreclosure process. Without a written agreement, you or your attorney
must continue to respond to the foreclosure suit in order to protect your
interests during any negotiations. You or your attorney may start negotiations
with your lender for a loan modification at any time, before or after
foreclosure proceedings have commenced. Once a foreclosure lawsuit is
filed, regardless of negotiations, you must protect yourself, a mortgage
broker or credit counselor can continue negotiations but only an attorney
can represent and protect your interests in court.



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