Archive for March, 2009

Credit Repair - It’s Never Too Late - Part I

Many subprime lenders have provided homeowners with complex non-traditional mortgage agreements that allowed them to get into homes that were otherwise too expensive. These mortgage agreements typically have lower payments during the first few years that increase–sometimes dramatically–after the introductory period. The homeowner is then faced with a monthly payment that is often much higher […]

Foreclosure Affects Renters, Too

Foreclosures in America have sky-rocketed in the past 5 years, fueled by cheap and easy credit to borrowers during the real estate boom. And while the majority of the defaults on loans are by primary homeowners who have fallen behind on payments due to a variety of reasons, the rising rates of default are also […]

Maximizing Return on Investment Property

While many homeowners are facing foreclosure today, there are many ways to maximize the potential of a property, and thus create equity to increase value and persevere through falling property prices in many areas of the country. For distressed properties, creating value can be done in a variety of different ways. For potential buyers, identifying […]

Foreclosure, Bankruptcy Or Both

A lot of time I read about people debating about bankruptcy or foreclosure and which one is going to be least harmful and most helpful to a homeowner.  Many questions get asked about the two options, in this article I’m going to answer some of the most commonly asked ones.
What is Bankruptcy?
Bankruptcy is a legal […]

Things You Must Know About The Foreclosure Process

The foreclosure process can be a stressful and worrisome time.  Learning every tip possible may mean the difference from losing and saving your home from foreclosure.  There is so much information out there; it can be quite overwhelming on knowing where to begin.  In this article I will go over the top 5 things you […]

Learn About Mortgages and When To Refinance Them

If you are facing or trying to avoid foreclosure, learning about mortgages and how refinancing them can be a valuable tool in saving your home.  It is good to think about mortgage refinancing before foreclosure is even concern; it can possibly help you pay it off quicker, lower you monthly payments, or even consolidate debt.
Mortgage […]

Simple Ways To Stop Foreclosure

When you are facing foreclosure and defaulting on your mortgage, your stress levels are probably close to going through the roof.  It is time to calm down and take action, here I will go over some simple solutions to help you avoid foreclosure.
Talk to Your Loss Mitigation Department
First of all don’t just give up right […]

Refinancing During a Loan Modification

Loan modification is the process where the terms of a mortgage are modified outside the original terms of the contract agreed to by the lender and borrower (i.e mortgagor and mortgagee). Many American homeowners today are behind on payments or facing foreclosure.  Banks more than ever are offering loan modifications to help restructure loans in […]

Foreclosure Language and Terms

When facing foreclosure, one of the very first things you want to do is talk to your lender. You need to set up a meeting with and go to that bank, then discuss the options that are available to you. In order to do this or to get help from any financial organization, […]

Understanding Short Sale Process

Banks and loss mitigation departments are flooded with offers on short sales so you should expect that this will take a while. Never before have there been so many defaults in the United States, and I don’t think even the banks have any type of precedent to refer to in hopes of handling these short […]

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