foreclosure Tag

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 do prevent a foreclosure and save your house. If you are in this situation, let us help by explaining your options...

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, you can see if there is another lender who will refinance for you, paying off your existing mortgage and making you a new loan. But for...

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 gets back in the hands of the lender, a resale is the next step. But all too...

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 the loan. But most times the amount paid at resale is less than what you owe, and if that is the case the bank might come knocking for...

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 final step in the matter and nothing further can happen afterwards. In some cases...

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. In order for a lender to take back real property a foreclosure has to be initiated. But when...

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 at the top of the pay grade, but military members can have just as much debt as...

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 the biggest hits you can experience is the loss of a job or a reduction in hours, which can cause your paycheck to take...

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 control and the amount owed on most homes is currently more than the value. This puts many...