property: Options to Foreclosure - 05/05/09 01:43 PM
Foreclosure is one resolution when a homeowner finds that they can no longer afford to make their monthly payments.  But there are other possible solutions.
1) Attempt a workout with the lender.  Call your lender and ask them if they can offer you a loan modification whereby your payments can be reduced or you can get a reduction in your interest rate.
2) List your property with a qualified agent to do a short sale on your property.  This is where the agent would represent you to negotiate between your lender that has the lien on your property and a potential … (0 comments)

property: Situations Causing Foreclosure or Short Sale - 05/02/09 06:02 PM
Probably the most common causes of a homeowner finding themselves in a distressed situation with their home are:
1) Interest rates adjusting to a much higher rate and homeowner unable to make the increased monthly  payment
2) Job loss, business failure or reduction in income
3) Illness or death of the wage earner or family member
4) Divorce or separation
5) Relocation
6) Military service
7) Credit card debt
Anyone of us can find ourselves in a situation where we may be faced with the prospect of losing our home, including me.  It only takes a month or two of one of these things happening and … (0 comments)