Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

How to Avoid Foreclosure from Happening to You
Foreclosure is a term many people may have heard of yet are unsure as to what the term means exactly. Foreclosures is something which affects homeowners who have a mortgage or lien on their home and do not own the house outright. There are a few things which homeowners should be aware of with regard to foreclosure in order to prevent this from happening to them.What Is Foreclosure?Foreclosure is when a lender who currently holds a mortgage on one's home can come in and repossess the home due to a number of reasons but mainly for nonpayment of a mortgage. For those individuals whose home is less valuable than their current loan balance, they may also owe a deficiency judgment as a result thereof.How Do Foreclosures and Deficiency Judgments Affect the Individual?There are many ways in which foreclosures and/or deficiency judgments can affect an individual. First and foremost, when a home is foreclosed upon that individual loses their living quarters plus any money which they have already paid for the home. When one has a deficiency judgment issued against them they will find that they will owe varying sums of money in order to make up the difference between the value ... more

__________________________________________________
Are you on The Rain? Grow Your Network!