short sales: Foreclosure Options, Helpful Definitions and Terms - Helpful Definitions and Terms for Foreclosure Options - 09/03/09 04:48 PM
Foreclosure Options, Helpful Definitions and Terms
 
I wish there was an effective way to get the word out to distressed homeowners about the options that are available.  It was hard to watch our neighbors walk away from their home even after endless attempts to counsel them in regards to options. 
Foreclosure Options, Helpful Definitions and Terms
•1.      FORBEARANCE (Moratorium): The lender could suspend payments from the Borrower for a period of time and readjust the terms of the loan at a later date, or they can add the amount to the back of the loan (prorated amount).
•2.      Deed in Lieu … (1 comments)