Category: Foreclosure
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How to Survive Foreclosure
When the economy is brutal, foreclosures become more common. So do homeowners’ questions about them. It’s hard to make any blanket statements about dealing with the process, as it varies so much from state to state — and even from county to county. That said, foreclosures can occur when a home loan becomes just too…
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Solving Title Problems for a Home with a Previous Foreclosure
A foreclosure usually means a previous owner fell into default on the mortgage. When there’s an unpaid mortgage debt, the lender can put a lien on the property, and ultimately claim the property itself. Foreclosures can also happen due to a neglected tax lien, or some other kind of lien. But there’s just one question…
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What Is a Short Sale — And What Does It Mean for Home Buyers?
When you’re browsing the listings, you might encounter the terms pre-foreclosure or short sale. What’s the scoop on these homes? It all starts when homeowners with mortgages find themselves under water — property values drop, and a homeowner owes more on the loan than the house is worth. Further, the owner has fallen on difficult…
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What to Know Before You Buy a Foreclosed Home
Thinking of buying a foreclosed home? The lower prices for foreclosures among the listings are certainly tempting! Even better, a lower price translates to lower property taxes. But given the potential pitfalls, will the deal be worthwhile? Buyers’ experiences vary widely. States vary, too, in laws and policies related to the way foreclosures are handled.…
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Can Filing for Bankruptcy Save a Home From Foreclosure?
It’s not the easiest topic we cover, but we know foreclosure sales will be on the uptrend as the U.S. works for financial recovery from a global public health crisis. Many readers are currently stretched thin by their mortgage obligations combined with other debts. For some, the financial stress will be overwhelming. If any helpful…