Today in the United States there are more and more homeowners facing the devastating financial challenge of foreclosure. Many times it can be avoided. Here are a few options besides foreclosure, along with a short explanation of each.
Reinstatement: This option is extremely simple, but the most difficult. The homeowner asks the mortgage company the total amount owed and [...]
With the large number of foreclosures that are occurring all over the United States, people should know the many options they have to avoid one. Here are additional options (Part II.) for foreclosure:
Rent the Property: If your mortgage payment is low enough that market rent will cover it, this option will allow you to keep your property indefinitely.
Deed [...]
Today in the United States there are more and more homeowners facing the devastating financial challenge of foreclosure. Many times it can be avoided. Here are some options (Part I.) for foreclosure, along with a short explanation of each.
Reinstatement: This option is extremely simple, but the most difficult. The homeowner asks the mortgage company the total amount [...]
Some key points on Obama’s foreclosure-prevention plan:
Loan terms may be modified by reducing payments for distressed borrowers
Refinancing for those current on payments, but have little or no equity in their home
Plan starts right away and is strictly for primary residences that are not vacant or condemned
Call your loan servicer for help to see if you [...]
For anyone facing a foreclosure life can become extremely stressful, as there are so many new issues that you will be faced with. In this time of change and uncertainty, there are actually people out there that are preying on others going into foreclosure. Scam artists are coming out of the woodwork and are offering homeowners [...]
