Seller just approved for loan mod, has not sent in paperwork

I just joined the network Monday and received a referral Monday evening.  The seller did her own loan mod application, has been approved, has the paperwork but cannot afford the new payment.  Based on my knowledge, it looks like she should cancel the loan mod and we need to get listed asap as I believe the lender will immediately start foreclosure as she is over a year behind.

Please advise to best approach with lender.

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In my experience your thinking is correct.  Have the client cancel participation in the loan mod program or else if you send in an offer it won't even be looked at.  Make sure the client believes all loan mod options have been exhausted. Best for her to cancel in writing and on the phone.



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