How to Prevent Vehicle Repossession
If you fall behind on car payments, you run the risk of repossession. Some lenders are quicker than others to repossess, but most wait until the third month of non-payment. There are several methods to prevent vehicle repossession. Your lender may warn you via correspondence that repossession is possible. But no lender will warn you […]
Will I Owe Money After Foreclosure?
Many people who call our office want to save their homes from foreclosure. In other cases, a foreclosure has already taken place. There are many different reasons why a foreclosure may be scheduled, ranging from market conditions to change in homeowner circumstances. One of the lingering effects of the foreclosure crisis is the rise of the deficiency […]
What is a Deficiency Judgment?
A deficiency judgment is a court judgment that a mortgage lender gets against a homeowner after a foreclosure. Many states prohibit deficiency judgments, but Virginia, Maryland and the District of Columbia all allow them. Different states impose different limits on when a lender can pursue a deficiency judgment. But the basic premise is the same. […]
Stop Car Repossession
You will probably want to stop car repossession if you have defaulted on your vehicle loan. If you stop making car payments, your financing company will repo your vehicle. No joke. Vehicle finance agreements are usually rock solid, and the finance company has all the power. Car repossession can happen without advance warning and without going […]