Foreclosure is your mortgage lender’s way to take back your house if you become delinquent on your mortgage note. Some lenders act more quickly than others, while some take a while to start the foreclosure process. In either case, you need to know that there are things you can to
If you have received notice that your house is in foreclosure, or that it is about to go into foreclosure, you have to act fast. There are several avenues you can pursue, one of which is to ask your lender to modify your mortgage loan. If that does not work,
When loans are taken out, the lender expects that they will be repaid in full. When payments are not made, the lender might undertake collection efforts. Some of those efforts include repossession of personal property, or foreclosure of real estate. When a repossession or foreclosure takes place and the property
A foreclosure is a legal way for the bank to take back your house if you are not making your mortgage payments. Many times, when the bank is successful in foreclosing on your home, the home is resold by the bank in an attempt to recoup the loss taken on
If you are behind on your mortgage payments your mortgage holder will probably start foreclosure proceedings against you. If you are unable to defend the foreclosure your home will be scheduled for foreclosure sale. There are a lot of misperceptions about these sales and many homeowners believe the sale is
The law is full of definitions and ways to characterize certain things. Your house is defined as real property, but your car is considered personal property. The distinction is important because if a lender tries to sue you for non-payment the type of property dictates the type of lawsuit filed.
Deciding to join the military is an honorable decision and one for which the entire country should be thankful. Without our military members the nation’s security would be at risk and the question about border control would be receiving even more attention. Unfortunately the pay for military personnel is not
Few things in life cause more stress than being unable to pay your bills. But if you are overextended or have recently experienced a major unexpected event such as a death in the family or significant medical needs it doesn’t take long before your finances take a hit. One of
Having your home taken away from you is a devastating experience. This is true whether your home is destroyed by fire or another natural disaster, or you lose it to foreclosure sale because the payments have become too high. Unfortunately in today’s world many mortgage loans are spiraling out of
Having a loan go into delinquent status can have serious consequences. At first you may just receive a few annoying phone calls from the lender, but if the issue is not quickly addressed it will not be long before the account is turned over to a collection agency for action.