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An expert from a housing counseling agency can guide you as you try to work with your mortgage company to avoid foreclosure. You can find a local HUD-approved expert online , or call HUD’s ...
A deed in lieu of foreclosure is a deed instrument in which a mortgagor (i.e. the borrower) conveys all interest in a real property to the mortgagee (i.e. the lender) to satisfy a loan that is in default and avoid foreclosure proceedings. The deed in lieu of foreclosure offers several advantages to both the borrower and the lender.
By Paul Hagey There are many actions borrowers can take before facing foreclosure. Many find solutions to their difficult situations by short-selling their homes or simply walking away, an option ...
This is how it works: After foreclosure, your lender or a new owner may file for eviction if you’re still on the property. Like foreclosure, the eviction process varies by state and location ...
When refinancing options are exhausted and foreclosure proceedings have led to near eviction, a foreclosure rescue transaction with moderate fees and full disclosures can be legally and ethically executed. A consumer can face removal from the property and the loss of their entire equity following a foreclosure auction. As an alternative ...
“Foreclosure floodwaters receded somewhat in 2010 in the nation’s hardest-hit housing markets. Even so, foreclosure levels remained five to 10 times higher than historic norms in most of those hard-hit markets, where deep fault-lines of risk remain and could potentially trigger more waves of foreclosure activity in 2011 and beyond.” [30]