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18 Tag Results
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June 26, 2009
Short Sale Foreclosure
Short sale foreclosure properties include residential homes, commercial buildings or raw land that has been returned to the bank because the property owner became delinquent on their mortgage note.
Short sale foreclosure is also an option given to borrowers allowing them to sell their property for less than they owe on their mortgage loan. Short sales can be a saving grace to borrowers unable to refinance or obtain a loan modification. The process generally takes four o six months to complete, but allows the borrower to walk away from their home without owing further monies.
Real Estate Investing article on "Short Sale Foreclosure"
June 21, 2009
Mortgage Short Sale
A mortgage short sale is one option available to homeowners facing foreclosure or unable to continue making their mortgage payments. With the current economic turmoil, millions of Americans are struggling to make ends meet. Many must choose between paying their mortgage and putting food on the table. Once they become delinquent on their mortgage note it can be next to impossible to get back on track.
The first step to obtaining a mortgage short sale is to contact your lender. Short sales are usually handled through the bank's loss mitigation department. A loss mitigator will be assigned to handle your case and will work with you throughout the process.
Real Estate Investing article on "Mortgage Short Sale"
June 19, 2009
Prevent Foreclosure
Prevent foreclosure is on the minds of many Americans. The foreclosure crisis is causing unsettling economic turmoil. Every community in the United States is affected in some manner. Housing prices are rapidly falling. People owe more on their mortgage than their house is worth. It's not a good situation.
There are many reasons to prevent foreclosure. The most obvious is no one wants to be homeless. Another major factor is foreclosure wreaks havoc on your credit history. It can take years to recover from the financial fallout.
Real Estate Investing article on "Prevent Foreclosure"
June 15, 2009
Avoid Foreclosure
If you need to avoid foreclosure, you don't have any time to waste. Although lenders are doing their best to help financially-strapped borrowers keep their house, there are only so many options available. Unless you have the financial means to cure mortgage arrearages and stay on track, you might not be able to stop the foreclosure process.
There are steps you can take to avoid foreclosure, but you must take immediate action. If you haven't already done so, now is the time to contact your mortgage lender. The longer you procrastinate, the harder it will be to convince your lender to work with you.
Real Estate Investing article on "Avoid Foreclosure"
May 28, 2009
File Bankruptcy
In order to file bankruptcy debtors must follow established protocol set forth in the U.S. Bankruptcy Code. In 2005, Congress enacted new bankruptcy laws, making it much more difficult to file. Few people can undergo the process alone and will require the services of an attorney.
When people file bankruptcy they must undergo the 'means' test; a financial tool that determines how much debt must be repaid. The Bankruptcy Abuse Prevention and Consumer Protection Act require debtors must repay a portion of debts unless they earn less than their states' median income level.
Real Estate Investing article on "File Bankruptcy"
April 24, 2009
Bad Credit Lender Loan Mortgage
Bad credit lender loan mortgage is a form of home financing available for people with poor credit. When the bottom fell out of the banking industry, lenders imposed new mortgage lending guidelines. In addition to requiring a high FICO score and solid employment record, borrowers must also have a substantial down payment before qualifying for a home loan today.
Obtaining a bad credit lender loan mortgage is not the same as subprime loans. However, bad credit loans cost more to obtain. Borrowers with low credit scores are viewed as high-risk; meaning there is a good possibility they will default on their mortgage note.
Real Estate Investing article on "Bad Credit Lender Loan Mortgage"
March 27, 2009
We Buy Ugly Houses
We buy ugly houses is the registered trademark of HomeVestors of America; a nationwide franchise based in Dallas, Texas. HomeVestors has been involved in recycling houses for nearly 40 years, making them one of the most recognizable house buying organizations in the U.S.
Most people are familiar with the "We Buy Ugly Houses" billboards and yard signs. The bright red and yellow signs with gigantic letters claiming to buy unsightly homes bring hope to distressed homeowners who need to sell their house fast or face foreclosure.
Real Estate Investing article on "We Buy Ugly Houses"
March 23, 2009
How to Avoid Probate
Understanding how to avoid probate can save your estate thousands of dollars and endless hours of time. Many people do not realize that the probate process takes an average of three years to complete. During this time assets depreciate in value while attorney fees escalate.
The following tips reveal how to avoid probate strategies which can easily be implemented at little or no charge.
Real Estate Investing article on "How to Avoid Probate"
March 13, 2009
Fail Out of Bankruptcy
The term, 'fail out of bankruptcy' refers to the debtor's inability to adhere to their bankruptcy repayment plan. Personal bankruptcy includes Chapter 7 and Chapter 13. With Chapter 7, outstanding debts are discharged, while Chapter 13 allows debtors to reorganize their debt and repay it over an extended period of time.
One missed payment can cause a debtor to fail out of bankruptcy. When this occurs, creditors are allowed to petition the bankruptcy court and request dismissal. In most cases, the judge will allow the debtor to explain why they missed their payments. However, if the bankruptcy is dismissed creditors can commence with collection proceedings
Real Estate Investing article on "Fail Out of Bankruptcy"
March 05, 2009
Buy My Home
"Man wears 'buy my home' sandwich board in desperate attempt to sell his house." This headline caught my eye as I skimmed through a local paper. The story went on to explain how the homeowner had been trying to sell his house to stop foreclosure. He claimed the sandwich board seemed to work for people trying to find work, so he thought he would try it as a last ditch effort to save his home and credit.
Perhaps there will be a new market for "buy my home" sandwich boards. That wouldn't be a bad thing considering how many people are losing their jobs. But, do homeowners really have to engage in this type of drastic advertising? The answer is no!
