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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 ...
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 generally a last-resort step taken by a homeowner to avoid a foreclosure, says Alesia Parker, branch manager at Silverton Mortgage, an Atlanta-based residential ...
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.
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).
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The independent foreclosure review was an initiative in the United States to attempt to provide aid to homeowners who had either received their Notice of Default, or were in danger of foreclosure in early 2010's. The review was initiated as a result of the Foreclosure Crisis of 2010. The Independent Foreclosure Review provided homeowners the ...
Johnnie Jefferson, an 85-year-old resident of Richmond, Texas, says she faces the heartbreaking prospect of losing the six-bedroom house she has lived in for more than 20 years after a ...