So weve been paying mortgage on time everytime for the past 6 years. And are currently weighing our options. Short sale VS foreclosure. My husband bought the house in his name before we were married in 08. So just trying to figure out our best option. Will the foreclosure be on my record? Will we have problems renting an apt? 1 benefit we are looking at with foeclosure is being able to stay here mortgage free for as long as we can. We own a townhome 1300.00 mortgage and 236.00 assoc fee Every month… As of right now we are just making it, but we want to be comfortable! Im a full time pharm tech, and hes a stay at home day, and works on my days off. We are basically never going to get ahead to save up for a real house. Our house is worth almost 35,000 less than we bough it at. Then the downfall, who really wants a foreclosure on their record! Please any advise, or stories in the same situation Please
Married in 08! House was purchased in 06. Stay at home Dad. we plan on renting and saving up for at least 5 years.
My FHA mortgage is in the process of foreclosure. Can they garnish my paycheck or take my state or federal tax return for the foreclosure debt? Does the mortgage insurance I paid help at all, since it was an FHA loan. Please help!!
A house is being foreclosed and posted in the news paper. I did a title search and the current foreclosure is for the second mortgage. Does anyone now what happens to the first loan. If I bid and won would I get the house.
I was under the impression only the first lender had the right to sell the house to secure their money and the second lender was left to fend for themselves / take it up personally with the borrower. I am confused as to why the foreclosure of the second mortgage is in the paper.
Our condominium association filed and foreclosed a lien for unpaid dues. Redemption period passed. Several months later (now) mortgagor (bank) is beginning foreclosure process for unpaid mortgage. Property is "under water". If mortgage is foreclosed and redemption period passes, what happens to our existing lien?? Thanks.
I am renting a property,,,and when I came home the other day a notice was on my door it says….NOTICE OF RESIDENTIAL FORECLOSURE DIVERSION PROGRAM…..IT ALSO SAYS…A JUDGEMENT HAS BEEN ENTERED AGAINST YIU AND PROPERTY IS ABOUT TO BE LISTED FOR SHERIFF’S SALE….but then there is another paper that came with it that has an ORDER FROM 2008 in FEB that says…upon consideration of plaintiff ( mortgage company) and the affidavit of good faith investigation attached hereto it is hereby ORDERED that service of complaint in Mortgage Foreclosure and all subsequent pleadings on (defendants) shall be complete when plaintiff or its counsel has mailed true and correct copies of the complaint to the last known address of defendants….well i came home yesterday and this notice was on door….so can someone please explain this to me and has this house been under foreclosure since last year? like have i been paying rent and my landlord knew it was undergoing foreclosure? and if so isn’t that against law?
guess i can’t get that much help on this question even with all the details…oh well thanks anyway…and that websitehttp://www.ebiznus.com/real.html….sucks it has nothing to do with my question
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realestatemarketingthisweek.com – Foreclosure rates on Forbearance Agreements done with banks reaches 58% – Part 3 – In studio with us today on this fine New years eve is Dan Havey, the co founder of the modification hotline as well as the author of The Foreclosure Sharks a great white paper he put together. He is also the author of Real Estates Future and this segment we are talking about loan modifications and some specific information. You also have a great story to tell about this to. Well unfortunately I have too many stories about people who have had to go through foreclosures, bankruptcies, loan modifications. The one story I want to talk about real quick is a friend of mine who unbeknownst to me went out and did a loan modification on her own and not to get into a whole bunch of technical details on it she ended up getting a pretty decent interest rate because they actually cut her mortgage payment in half and she was pretty happy about that. She owed a little bit more than the house was worth, she wasnt terribly upside down, but by the time they got done with her she certainly was going to be because the modification, and actually I should not call it a modification, I should call it a forbearance agreement, what they did to her was to say, OK we will cut your interest rate in half, we will cut your monthly payment in half, but we will take all of that deferred interest and tack it onto the back end of the loan. So that by the time her interest rate went back to …
