When lenders are harassing you for payment of debts and you have no immediate means of catching up your late payments, it can become a harrowing experience. It gets worse when the threat of foreclosure is thrown into the mix. What are your options in this situation? If you are willing to move out of […]
DEED IN LIEU OF FORECLOSURE?
There are many options open to a homeowner facing financial difficulty and foreclosure. One option offered by mortgage companies is a deed in lieu of foreclosure. When a homeowner executes a deed in lieu of foreclosure, he or she surrenders the home to the lender and moves out because the homeowner can no longer pay […]
WHAT DOES FORECLOSURE EVEN MEAN??
On the day you buy your house you have to sign stacks of paperwork at the real estate closing office. Among all those papers that we might skim, but rarely read closely, are a “Promissory Note” and a “Mortgage.” Your promissory note is a relatively short document that says how much money you promise to […]
WHAT IS A SHORT SALE?
When a homeowner (borrower) is faced with financial difficulties and falls behind on their mortgage it can be very stressful. If you miss multiple mortgage payments, your mortgage company may begin to harass you for payment, even though you cannot afford it. If you owe more on your home than it’s worth and are willing […]
What does a “Motion for Summary Judgment” mean for you?
Motions for Summary Judgment: Hearings on Motions for Summary Judgment will never be on television. Imagine that Judge Judy just read from a form document from the bank and then she read some letters from the bank’s employees. Imagine that the homeowners tried to tell her their side of the case but she told them, […]