One out of every three homeowners has a negative equity position in their home. Meaning they owe more than the home is worth. This can and will negatively impact a homeowner if they fall behind on their mortgage. The problem is that when they become more than 90 days behind on their mortgage the lender [...]
When faced with foreclosure this is truly the first question a homeowner must ask themselves. In most cases the homeowner will want to stay in the home because they have children in school and they don’t want to up root them, there are memories and an emotional attachment with the home and there may or [...]
A short sale is when a homeowner owes more than the value of the home and is looking to negotiate and settle with the lender for less than the original principle amount. This will allow the homeowner the ability to sell the property as a loss to the bank. This strategy has become increasingly more [...]
Depending on state specific foreclosure laws the lender will need to follow a specific set of steps in order to foreclose on your home. The two legal processes a lender must use in order to execute a mortgage foreclosure on a home are a judicial foreclosure process and a non-judicial foreclosure process. Both will result [...]
In order for a bank for conduct a foreclosure sale on your home they must either get a judgment for sale which occurs in a judicial state or get permission from the trustee to conduct a trustee sale which occurs in non-judicial states. There are only a few real options a homeowner has when faced [...]
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