Stop Foreclosure: Why Does My Lender Want My Last 2 Pay Stubs?

Westminster CO – The Stop Foreclosure Institute recently received a question from Alan. Here was his question.

“Why does my lender need copies of my last 2 pay stubs? Are they hoping to garnish my paycheck? I am concerned that if I give it to them, then they will use it to garnish my paycheck.

They have said if they don’t get them, then they will not approve the short sale. What should I do? Alan.”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here was our answer. Alan, we are not lawyers and therefore we can’t answer the garnishment question. Are you at risk of having your paycheck garnished by the lender?

I don’t think so. But, that’s just my opinion. Here is the first reason I don’t think they will garnish your wages. It’s because they can foreclose on the property! The house is the collateral for this debt.

In most cases, the lender simply wants to see how much money you are making. They try to use that information to understand why a short sale is being requested. If you are recently unemployed, provide a letter of explanation as to why you are not providing pay stubs.

Here is the second reason I don’t think they will garnish your wages. Wage garnishment is difficult to process. They just do not have the resources to work this!

For example, if the person being garnished is the main provider for a family, then the laws are often written to stop any garnishment against them. It becomes a waste of time for the lender's efforts.

Here is the third reason I don’t think they will garnish your wages. Historically, we have not heard of any of our past clients ever having to deal with a "garnishment" process while trying to stop foreclosure with a short sale!

I can help you short sale your property and get back on your feet. Send me an e-mail at denverforeclosureblog@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 303-521-0984

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Westminster loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Phone: 303-521-0984. denverforeclosureblog@gmail.com.


Thanks for reading this, Dan Hopper.

View My homes for sale at www.danhopper.com.

Dan Hopper specializes in loan modification assistance and short sales in Denver, Colorado. Denver Loan Modification Help, Denver Short Sales. Denver Realtor. Westminster, CO Loan Modification Help, Westminster, CO Short Sales, and Westminster Realtor.

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Important Notice

Dan Hopper, Remax Alliance, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Dan Hopper's personal views and do not reflect the views of Remax Alliance.

This information on Stop Foreclosure: Why Does My Lender Want My Last 2 Pay Stubs? is provided as a courtesy to our viewers to help them make informed decisions.