Archive for April, 2009

How To Qualify for a Mortgage After Foreclosure

If you have a foreclosure on your credit report, getting another mortgage is going take some work and time.  It will take at least 3 years from the time the foreclosure was finalized to be eligible for another (conforming) mortgage.  This 3-year period is a critical time, to build your credit back up and get […]

Fighting foreclosure and Avoiding Scams

Millions of U.S. homeowners are having a tough time making ends meet and paying their mortgages on time.  Sometimes it is due to a sudden illness or unexpected job layoff, whatever the reason may be more and more people are facing foreclosure.
Reasons Why Homeowners Are in Foreclosure
More and more homeowners are barely able to cover […]

Homeowners Still Owing Money After Foreclosure

A question I hear a lot is if homeowners will still owe money to the bank or government after foreclosure or short sale.  This really all depends on how successful the short sale or auction was and how much their home sold for verses how much they owed on it.  Even though the agreement is […]

Surviving Housing Downturn

As a landlord or homeowner there are many simple ways to improve your property to increase value and secure your investment. In today’s current economic environment with the state of the housing market in recession, more and more people need rental apartments as it becomes more difficult to achieve home ownership.
Five years ago it […]

Foreclosure Vs Short Sale

Foreclosure happens when a homeowner cannot meet their monthly mortgage payments.  After missing a couple of consecutive payments to your lender, they will begin the foreclosure process on you.  There are many options available to homeowners to try and use to stop foreclosure.  Today we area going to look at the short sale option and […]

Never Too Late to Repair Your Credit Part II

If you have missed mortgage payments or are facing foreclosure, it is not too late to consolidate your bills and get back on track.  It might seem hard to imagine getting out from under the burden of debt that has accumulated, but there is always an option that can help repair your credit. 
There are […]

How do I purchase a foreclosure property??

Purchasing a foreclosure process is just that, a process. If you can get a great deal on a property, it is well-worth ths process you have to go through. You most likely will receive no warranties or representations on the property you are buying, meaning no property disclosures, guarantee of title chain, etc. You may […]

How Renters Lose Out In Foreclosure

If you are a renter and the homeowner you lease from defaults on their mortgage and goes into foreclosure it can be a real pain for you.  Renters pay their rent every month and are usually taken by surprise when the landlord/owner informs them that their place is being foreclosed, but more and more this […]

Understand The Different Types of Foreclosure

When facing and trying to avoid foreclosure, it is important to understand which type you are dealing with.  All types of foreclosures do have one main thing in common, which is that they involve the lender taking back property that a borrower has failed to make regular payments on their secured loan.  This rest of […]

What is a Deed of Trust, anyways??

A deed of trust is a financial instrument used in some states in place of a mortgage.  It essentially is the transfer of interest in land or property by a mortgagor-borrower to a mortgagee-lender to secure the payment with collateral of the borrowers debt.  A deed of trust or “trust deed” serves the same purpose […]

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