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The foreclosure process begins when a financially distressed homeowner fails to make a loan payment and is served with a summons from his or her creditors. After service, papers will be filed with the county clerk's office and be made a matter of public record (in some areas the place where deeds and mortgages are registered may go by a different name, such as the office of the land registrar).
How to get a mortgage after foreclosure. Despite the foreclosure, you can own a home again with patience and strong financial habits. Before you attempt to make the purchase, though, do the ...
Getting a mortgage after foreclosure can be challenging because of the impact on your credit score and the fact that you’ll likely need to endure a waiting period before applying for a new loan ...
Mortgage lenders use the home you buy as collateral or security for your loan. If you fail to make payments, your lender can foreclose and sell your home to recoup the money it lent you ...
Foreclosure rescue in the United States is where a mortgage that is in arrears and where the lender is at the stage of foreclosing on the loan agrees to stop the foreclosure in exchange for funds received through loan modification or from a government grant. It may also refer to funds that allow the homeowner to repurchase the property at or ...
In 2007, Congress selected NeighborWorks America to administer the National Foreclosure Mitigation Counseling program. In a continuing effort to assist in recovery from the housing crisis, in 2009 NeighborWorks launched the Loan Modification Scam Alert campaign and Stable Communities Initiative.
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