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Reinstatement quote while a loan modification is under review
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I’m trying to figure out which number and deadline control here. I’m in [state], and my loan is at the [current foreclosure stage]. The servicer gave me a reinstatement quote for about $[amount] in missed payments, fees, and costs, but it expires on [date]. The next foreclosure deadline is [date].
I submitted a loan-modification application on [date], and it is currently [status]. I’m also considering asking about forbearance or a repayment plan.
Is it appropriate to request an updated reinstatement amount while the loss-mitigation review is pending, or could that conflict with the application? I don’t want to assume the review pauses foreclosure, especially if the reinstatement quote expires first.
What should I request in writing from the servicer? I’m thinking confirmation of:
- Whether the foreclosure process and sale deadline remain active
- The exact amount and expiration date needed to reinstate
- Whether the loss-mitigation application is complete
- Whether foreclosure activity will be paused during review
- What happens if the modification is denied or isn’t decided before the next deadline
I’m planning to have a foreclosure attorney review the notices because the controlling deadlines may depend on the state and the current stage. Has anyone dealt with a reinstatement quote and a pending modification at the same time? What written confirmation did you get?
1 reply
Request a payment history and an itemized reinstatement quote calculated through a specific future date, not just the current expiration date. The balance can change while the modification is pending because of daily interest, late charges, attorney fees, filing costs, and other foreclosure expenses.
Ask the servicer to state in writing:
- Total needed to reinstate through the quoted date
- Each fee and charge included, with the date it was added
- Per-day interest or other amounts accruing after that date
- The payment method, delivery deadline, and whether funds must clear by the deadline
- Whether the quote is still valid if the loss-mitigation review remains open
Requesting that information shouldn’t conflict with the modification application. It helps preserve a separate option if the review is denied or doesn’t resolve before the foreclosure deadline. Keep the request and the servicer’s response with the application records, and don’t rely on a verbal statement that foreclosure is paused.
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