Tag Archives: Foreclosure & Alternatives
Is bankruptcy my only alternative to foreclosure?
For many people who are facing the threat of foreclosure, their mortgage payment is the only debt that is causing them financial difficulty. If there were a way to rework the terms of the mortgage or some of their other debts, it might provide the relief they need. In too many situations, however, the… Read More »
How can I stop the bank from foreclosing on my home?
In a previous post in this series, we discussed the foreclosure process and the steps lenders must take before initiating a foreclosure on your property. In that same post, we also mentioned that there may be steps you can take to stop the foreclosure and keep your home. Today we want to get into… Read More »
Does the bank have the right to take my home?
If you are behind on your mortgage payments, it is possible for the bank to foreclose on your home. When you signed your mortgage agreement and promissory note, your house was put up as collateral in the event that you were unable to make your mortgage payments. That means the bank can force the… Read More »
Foreclosure can happen to anyone, even millionaires
Foreclosure is not about failure. Losing a home is not limited to the rich or the poor. From the world-renowned actor to the “man on the street,” anyone can experience severe financial problems caused by irresponsibility or circumstances beyond their control. Chad Johnson, once known as NFL star Chad Ochocinco, may have lived a… Read More »
Foreclosure numbers better, but still fairly high
It’s tempting to think that the foreclosure crisis has passed. It’s been long enough, for example, that a recent Oscar-winning film, “The Big Short,” has been made about the housing bubble’s burst in 2008, leading to millions of foreclosures and causing a major hit to the economy. While that movie depicts historical events, the… Read More »
Foreclosure’s ripple effects can last for years
It goes without saying that foreclosure is generally something that should be avoided if at all possible. Whatever your reasons for getting to the point where you could lose your home — excessive credit card debt, the fallout from a divorce, or the loss of a job — in many cases, finding a way… Read More »
Legal action against homeowners uneven, varied
Readers of this blog should already realize that every case involving debt, bankruptcy and/or foreclosure is different. However, too many people still make the mistake of thinking that if their situation is similar to someone else’s, their outcome will be similar as well. That can be a costly misconception. For example, people who lose… Read More »
Qualifying for a short sale: what you need to know
Facing the possibility of losing a home in foreclosure can be a devastating blow to any homeowner. However, it is not one that typically comes as a surprise to anyone considering the fact that it comes on the heels of multiple missed mortgage payments. With this in mind, homeowners should know that there are… Read More »
Will I have to leave my home immediately after foreclosure?
Hearing the term “foreclosure” can send any homeowner into a panic. Indeed, the legal process of foreclosure is a serious one and should be taken as such by anyone who is at risk of foreclosure or has been notified that a foreclosure claim has been filed. However, it is important to understand that you… Read More »
Avoiding foreclosure by working with lenders
Homeowners across Florida can find themselves at risk of losing their home in foreclosure if they are facing financial troubles. Keeping up with mortgage payments can fall by the wayside when a person is dealing with divorce, serious medical issues or the loss of a job. However, foreclosure is not inevitable. There are ways… Read More »