[DARISC]

Thank you all for taking time to read my post.

McLovin, I really appreciate the effort you've spent replying. I'll be talking with my friend over the week end and will go over your posts with her.

She did not want to lose this (her only) property and had applied for a loan reevaluation, at which time she quit paying the mortgage. Months passed, then finally a request for docs/info, which she provided, then more months and another request for same, again, provided, more months pass then, WTF?!, a third request for same and, for the third time, provided.

More months passed and the bank then told her that she doesn't qualify because it's a commercial property, so it's apparently a recourse loan. So she notified the relevant department of the bank that she had to walk away and, months later, they said they'd get back to her; that was months ago also, so she called the bank again to ask about the foreclosure procedure. She was told, surprise!, they'd get back to her.

My friend has no assets, real estate or otherwise, for the bank to go after. She feels terrible that she is losing her investment, which she's had for maybe fifteen or more years and hates walking away, but really has no other choice at this stage.