How to Prevent Foreclosure If You Lose Your Job
Foreclosures in the United States have dropped to an 11-year low while unemployment has found a 44-year low. How the average American fares, however, does not reflect the circumstances of any particular individual. Statistics simply don’t make a difference when you’re trying to keep your home. Here’s how to prevent foreclosure if you lose your job. […]
Questions for Your Mortgage Company If You’re Facing Foreclosure
If you’re facing foreclosure, stay in contact with your mortgage company. Do not ignore them when they call, and do not ignore their correspondence. Instead, reach out to your lender to determine your options. You will have questions for your mortgage company if you’re facing foreclosure. 4 Questions to Ask Your Mortgage Company If You’re […]
Will Partial Payments Delay Foreclosure?
If you have missed mortgage payments, you may wonder: Will partial payments delay foreclosure? In most cases, unfortunately, the answer is No. If your mortgage company actually accepts your payment, they will not apply it to your most recent bill. To stop or delay a foreclosure, you must get the bank to agree (in writing) […]
Why is My Mortgage Company Suing Me in Washington, DC?
With just 97 completed foreclosures, the District of Columbia had the nation’s lowest annual number of completed foreclosures in January 2016. But Washington, D.C. also had the fourth highest foreclosure inventory rate in January 2016 at 2.3 percent. So why is my mortgage company suing me in Washington, D.C.? The answer is: because now they have […]
What is a Deed in Lieu of Foreclosure?
A “deed in lieu of foreclosure” is the legal transfer of ownership of real property to the primary mortgage holder. The deed in lieu of foreclosure, sometimes simply called “deed in lieu,” is an option to avoid foreclosure. A deed in lieu conveys the homeowner’s interest in the property back to the lender, usually in exchange for forgiveness […]
File Chapter 13 Bankruptcy to Delay Foreclosure
If you are behind on your mortgage payments, your mortgage company will take legal action to foreclose on your home. Many homeowners are willing to take whatever measures necessary to keep their homes, even for an indefinite time. Chapter 13 bankruptcy is often the only way to fend off a foreclosure in the event that […]