Editors
Most Rated Articles
Foreclosure Statistics Articles
Not every situation can be resolved through your loan servicer’s foreclosure prevention programs. If you’re not able to keep your home, or if you don’t want to keep it, consider alternatives.
Recently Approved Articles
There are several ways to search for foreclosed homes, but the free way is to use the government agencies like, HUD, IRS, SBA and the VA. The first place to start looking is the Housing and Urban Development (HUD) site.
The foreclosure process, basically speaking, is the steps through which your bank or lender repose your property.
Foreclosures can be lucrative on your part if you just know how to find a great deal. Finding great foreclosure deals may sound to be a difficult thing to do but it is actually not if and only if you are aware of how you can get those deals instantly.
Homeowners who are having difficulty meeting their mortgage payments are looking towards mortgage loan modification programs for help. But many are on confused about which loan modification program is right for them and what they can qualify for.
Real estate investors are working overtime right now trying to cherrypick as many profitable deals as they can get their hands on. Most investors concentrate the majority of their time on finding motivated sellers.
If you’ve charged too much on credit cards or are paying less toward your debts than you should, you’re not alone. A lot of people are in this situation.
HUD sponsors housing counseling agencies throughout the country that can provide advice on buying a home, renting, defaults, foreclosures, credit issues, and reverse mortgages.
You may have to pay expenses such as recording fees for a loan modification. Because every situation is different, contact your lender for more information.
If you're selling the house yourself to avoid foreclosure, check to see if there are any complaints against the prospective buyer. You can contact your state's Attorney General, the State Real Estate Commission, or the local District Attorney's Consumer Fraud Unit for this type of information.
Look at your monthly mortgage coupons or billing statements for the lender's name and contact information. You should also know what kind of mortgage you have. Look on the original mortgage documents or call your mortgage lender.
Random Articles
Stay in contact with your lender and get assistance as early as possible. All dates are estimated, and vary according to your state and your mortgage company.
If you are a homeowner who needs money to pay bills or for home repairs, you may think a home equity loan is the answer. But not all loans and lenders are the same--you should shop around.
First and foremost, if you can keep your mortgage current, do so. But if you find you are unable to make your mortgage payments, you might qualify for a loan workout option. Check with your lender to see which option may be available. Some options may not apply to your loan if it is not insured by FHA.
Before you have any conversation with your loan servicer, prepare. Record your income and expenses, and calculate the equity in your home. To calculate the equity, estimate the market value less the balance of your first and any second mortgage or home equity loan.
If you borrow money from a commercial lender and the lender later cancels or forgives the debt, you may have to include the cancelled amount in income for tax purposes, depending on the circumstances. When you borrowed the money you were not required to include the loan proceeds in income because you had an obligation to repay the lender.
The scam artist may promise to negotiate with your lender or to get refinancing on your behalf if you pay a fee up front. Instead of contacting your lender or refinancing your loan, though, the scam artist pockets the fee and files a bankruptcy case in your name – sometimes without your knowledge.
The Department of Veterans Affairs (VA) acquires properties as a result of foreclosures on VA-guaranteed and VA-financed loans. These acquired properties are marketed for sale through a property management services contract that was awarded to Countrywide Home Loans.
Not always. There are some exceptions. The most common situations when cancellation of debt income is not taxable involve: Bankruptcy: Debts discharged through bankruptcy are not considered taxable income.
5 Signs of a Mortgage Rescue Scam: Promises to Stop a Foreclosure or Modify Your Loan. Guarantees Your Home Will be Saved 97% Success Rate. Requires Fees in Advance.
Do you know what kind of mortgage you have? Do you know whether your payments are going to increase? If you can’t tell by reading the mortgage documents you received at settlement, contact your loan servicer and ask. A loan servicer is responsible for collecting your monthly loan payments and crediting your account.