There are good and bad things that come with the deed in lieu of foreclosure. If you are unable to make the monthly mortgage payments on your home anymore you might consider this as your option. There are pros and cons to this which might help you make your decision.
Pros / Positives
The biggest positive of [...]
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Are you about to lose your home, go through foreclosure, and destroy your credit? If so you’re not alone. Countless families across the country today are dealing with the very same problem today.
Consider one family’s story – the LaVan family. They had a beautiful two story home in a great neighborhood and things were going [...]
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If you want to stop foreclosure now there are many things you can request to the bank or lender if you want to keep your home. The things you can do include a reinstatement plan, repayment plan, loan modification, loan refinance, loan forbearance, and more. If you really want to keep your home you should [...]
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Many homeowners these days are going through the mortgage foreclosure process. Most of them usually end up filing for bankruptcy in an attempt to save their properties from being auctioned off. The bankruptcy option is actually the process least understood by a lot of homeowners. It is also the least popular at that. However, this [...]
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No one ever purchases a home with the desire of defaulting on the mortgage, but it does happen. Many situations can result in a bank foreclosure on a property, including medical emergencies, loss of a job or divorce. If you are in a position where your mortgage payments cannot be met, it is important to [...]
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It wasn’t so long ago that it felt like anyone who wanted to have the money that they would need for a home. Homes were flying off of the market, and just about everyone was getting into it. However, with the downturn of the economy and with other problems, the amount of people who are [...]
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The mortgage foreclosure process can be quite overwhelming for a lot of people. Especially, if they themselves are facing this type of situation. In this article, we’ll cover the steps that the lenders can take as far as the mortgage foreclosure process is concerned. This may vary from state to state. The laws as [...]
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As we all know, mortgage insurance companies are helping banks and homeowners avoid foreclosure. Surprisingly as it sounds these mortgage insurance companies will even put some of their own money to help homeowners make their mortgage payments.
1. Why do mortgage insurance companies are willing to put their own money?
2. How can we know if we [...]
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If you are a homeowner going through the foreclosure process, you will likely have to write a hardship letter at some point.
Are you trying to stay in your home by getting your lender to agree to a loan modification or a repayment plan?
Are you trying to get out from under your home by selling it [...]
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