Foreclosure is the legal process by which a lender takes control of a property, evicts the homeowner and sells the home after a homeowner is unable to make full principal and interest payments on his or her mortgage as stipulated in the mortgage contract. Source – Investopedia
If you’re having trouble keeping up with your mortgage payments and think you might be headed for foreclosure, there are still some things you can do to ameliorate the situation. Millions of U.S. homeowners have had their properties repossessed in ...
A reader of AskTheMoneyCoach.com is dealing with a potential foreclosure situation. Of course, they’re trying to avoid foreclosure. This individual is interested in getting a loan modification and has gotten an offer for help. The dilemma this person is facing, ...
As more homes go into foreclosure, you might be considering investing in a foreclosed property to generate some extra income. Foreclosed homes can be moneymakers in strong rental markets or if you’re able to sell a deeply discounted property for ...
If you’ve suffered some serious financial blows recently and find yourself homeless, there are some things you can do to help yourself get back on your feet and start a new life. Being homeless doesn’t have to be a permanent ...
As more homes go into foreclosure, you might be considering investing in a foreclosed property to generate some extra income. Foreclosed homes can be moneymakers in strong rental markets or if you’re able to sell a deeply discounted property for a higher ...
We keep hearing a lot about strategic defaults and about how people are increasingly walking away from their homes because they see them as bad investments. Up until now, a fairly clear picture has emerged of the profile of the ...
When you have taken the step to file for bankruptcy and are struggling to make ends meet, you may have wondered if your home will soon go into foreclosure. If you’re filing for bankruptcy, it’s likely that you’ve been struggling ...
If you’re facing foreclosure, you may be wondering how this will affect your credit score. Missing payments on your mortgage and other bills may have already dropped your credit score by several points, and when you reach foreclosure status, you ...
When you miss a credit card payment, mortgage payment or end up going into deep debt that you can’t realistically pay off within a reasonable amount of time, you put yourself at risk for bankruptcy or foreclosure. Many people who ...
If the effects of the recession have left you with a home or condo that is worth less than the amount of your current mortgage balance, you may have considered a strategic default. A strategic default is when a borrower ...
When you miss a credit card payment, mortgage payment or end up going into deep debt that you can’t realistically pay off within a reasonable amount of time, you put yourself at risk for bankruptcy or foreclosure. Many people who ...
If you’re facing foreclosure, you may be wondering how this will affect your credit score. Missing payments on your mortgage and other bills may have already dropped your credit score by several points, and when you reach foreclosure status, you ...
Q: I've heard the term squatter's rent used many times. Can you tell me what is the definition of squatter's rent? A: Squatter's rent is the money someone saves up by not paying their mortgage. In many states, it is ...
Despite the bona fide assistance out there, it's harder than ever for many consumers to separate trustworthy foreclosure assistance companies from the bogus ones. And with unemployment and mortgage delinquencies remaining stubbornly high, con artists from coast to coast are ...
Q: I am a Single Woman Sharing a Mortgage with my Mother. I Purchased the House From her in 2004 to Prevent Her from Filing Bankruptcy and Losing her Home. We've Refinanced Twice and Now the Loan is Twice the ...