foreclosure: Mortgage Debt Forgiveness Relief Act - EXTENDED One Year at a time...!
- 01/06/13 01:10 AM
I have to say that I am EXTREMELY pleased that the Mortgage Debt Forgiveness Relief Act has been extended for another year. If you are a homeowner in distress this is not the time to sit back and relax because there is not guarantee that this will be extended after the end of this year. This is the time for YOU to take ACTION...AND it is the BEST time for YOU to take action. In November, I had given numbers of homeowners in default throughout the country. These, of course, were statistics up to the month of November 2012. I was … (0 comments)
foreclosure: Path To Homeownership: Closing (Buyer)
- 02/06/08 05:48 PM
Although, purchasing a home can be a tedious process, the right Real Estate Agent can make it a relatively smooth one. Researching information on the homeownership process will also benefit you. Throughout this blog series...I have tried to walk the homebuyer through the process from selecting your Real Estate Agent to House Hunting to understanding negotiating your offer and now closing the escrow transaction. Escrow closing signifies legal transfer of title from the seller to the buyer. Once all the conditions of the escrow have been satisfied your Escrow Officer will inform you or your Real Estate Agent of the date escrow will close … (0 comments)
foreclosure: Path To Homeownership: Making The Offer
- 12/28/07 09:13 AM
In a previous article I wrote, Path to Homeownership: House Hunting I described how to inspect a house using your 5 senses. While house hunting, it is a good idea to write down notes on what you have seen. Write down the good, the bad, and the ugly. Throughout the day, you may have looked at several houses, so it is a good idea to have a checklist for each home you visited. At the end of the day, if you have determined which home is of interest to you, look at your notes. Revisit your budget. Determine the most you … (4 comments)
foreclosure: Path To Homeownership: House Hunting
- 12/26/07 05:49 PM
Your Path to Homeownership is a process in it self, it takes time. You've been saving and budgeting your household income by cutting down expenses on dining out and spending sporadically on shopping sprees. You sat down with your family and wrote down your wants and needs. You have learned and heard endless information about the lending process, looked into down-payment assistance programs, and have your pre-approval letter ready. It's time to go House Hunting! Finally! Hunting for your dream home is an exciting time, however, it can be an overwhelming experience. So, it's best to be as focused as you can be, … (16 comments)
foreclosure: When Is it a good Idea to Consider a Deed-In-Lieu of Foreclosure
- 12/10/07 05:13 AM
Decisions. Decisions. Decisions. If you are late on your payments and are trying to think of some options as to what you can do to avoid foreclosure, here are some options: Repayment Plan Reinstatement Forebearance or Loan Modification Agreement Refinance Bankruptcy Short Sale Deed-in-lieu of Foreclosure What is a deed-in-lieu (DIL) of foreclosure? A borrower can contact their lender and offer the lender title to the property "as is" and walk away from their interest in the house. The advantage of the Lender accepting a DIL is eliminating the extra expense of the foreclosure proceedings. The Lender, however, is not required … (11 comments)
foreclosure: The Benefit of performing a Short Sale
- 11/22/07 05:16 PM
If a borrower has received a Notice of Default due to being behind on their payments they are technically in pre-foreclosure. Once foreclosure proceeding have begun, the borrower has several different options available to try to resolve their contract with the Lender (forebearance or other Loss Mitigation measures). A Lender may allow the borrower to perform a Short Sale. A Short Sale is when a lender approves the sale of the property at a lessor value than what is owed by the borrower. If a borrower is faced with a financial hardship, a lender may consider to accept a discounted payoff on a … (11 comments)
DISCLAIMER: I must disclaim liability for any damages or losses, direct or indirect, that may result from use of, or reliance on, any information contained in this blog, or for the accuracy of comments or opinions expressed by visitors to my blog. The information contained in the articles is deemed reliable but is not guaranteed, and the opinions expressed in these articles are mine.
I have to say that I am EXTREMELY pleased that the Mortgage Debt Forgiveness Relief Act has been extended for another year. If you are a homeowner in distress this is not the time to sit back and relax because there is not guarantee that this will be extended after the end of this year. This is the time for YOU to take ACTION...AND it is the BEST time for YOU to take action. 
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