unemployed homeowners: Your Get Out of Jail Free Card for Real Estate - 01/13/12 10:35 AM
    If you miss a mortgage payment, the lender has a right to foreclose — to sell your property and recover the loan amount plus foreclosure costs. However, lenders sometimes prefer to work out matters so that foreclosures can be avoided because a typical foreclosure action results in a $40,000 loss to the loan owner. If you can make up the missing payment and otherwise satisfy the lender it may be possible to avoid foreclosure. Not foreclosing is an act of forbearance.
This post is about not being foreclosed on, especially if you lost your job.
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Krista Lombardi (Prudential Calfornia Realty) Rainmaker large

Krista Lombardi

San Diego, CA

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Prudential Calfornia Realty

Address: 2365 Northside Dr. Ste 200, San Diego, CA, 92108

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