You’re Contact Information
Make sure the lender knows how to get in touch with you. Provide your name, address, daytime and evening phone numbers, and an e-mail address.
According to a 2003 Federal Reserve study, lenders stand to lose 30 percent to 60 percent of an outstanding loan balance going through the foreclosure and REO process. It is estimated that foreclosure proceedings can cost a lender from $40,000 to $70,000 for each case.