Sale of Your Home

If you are at a point that you are no longer able to afford your home and you are looking at possible foreclosure it may be time to sell. What costs are involved in putting your home on the market? Should you use a realtor? If you pay off your loan early is there a…

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Dealing with Possible Foreclosure: Bankruptcy

If a foreclosure is imminent, filing for bankruptcy will stop the sale and put everything on hold. A debtor is barred from pursuing collection outside of the bankruptcy process once you have filed. If you need additional time to work out a solution with your lender, but the foreclosure is already set, filing for bankruptcy…

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Beware of Foreclosure Scams

A borrower desperate for a way out of his/her financial troubles is especially vulnerable to the opportunities that offer quick, painless, and sometimes even profitable solutions to past-due bills. When those missed payments involve a mortgage and put the homeowner in danger of facing foreclosure, they can appear to be heaven sent. Beware. Great opportunities…

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Contacting a Counselor

The word foreclosure is enough to make most homeowners shudder. It is a scary prospect that leads many people who are behind on payments to stop reading the mail and answering the phone in hopes that it will go away. Foreclosure has no real winner except for maybe investors who buy cheap foreclosed homes at…

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Pre-foreclosure Sale: Selling your home to avoid foreclosure

Homeowners who find themselves in the situation where they are having difficulty making the monthly payments for their home loans, and the loan(s) are either close to, or exceed the value of the home, making a refinance virtually impossible, should consider the alternative of the pre-foreclosure sale and short sale payoff to avoid a foreclosure….

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Communicating with your Lender Before Missing a Payment

The current housing crisis is bringing the topic of foreclosure to the forefront of the national conversation. The housing bubble has burst and many people are finding themselves unable to refinance costly Adjustable Rate Loans or unable to afford their current fixed rate loan. Depending on your circumstances, there are several ways to approach this…

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Glossary

Appraisal Appraisal is the process in which a professional performs an evaluation of the property in question to determine the fair market value. The appraisal value may be used to determine an asking price for sale, appropriate amount of insurance to be carried, or in relation with a short-sale. ARM An ARM loan is an…

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Credit counseling may help you in avoiding foreclosure

Tragically, many families lose their homes unnecessarily simply because the owners didn’t know what to do when financially troubled times hit. Sometimes, however, in trying to do the best thing, the debtors accept the first help offered; help that turns out to be from a credit-counseling agency that takes advantage of the already debt-stressed individual…

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Overview of Foreclosures

Thanks to today’s tough economic times, foreclosures are making headlines in cities throughout America . Many financial situations can cause foreclosures – loss of a job, divorce, high medical bills, even simply taking out the wrong kind of loan. Whatever the reason, more and more homeowners are facing the loss of their homes due to…

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Dealing with possible foreclosure – an overview

If you’re facing money problems, the last thing you want to think about is the possibility of losing your home. Yet foreclosure is a real – and scary – consequence for many people these days. One of the most important actions you can take right away is to contact your lender as soon as you…

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