foreclosure: Foreclosure Victims: How They Fall Prey to It.
- 09/27/08 03:00 AM
Foreclosure is a tough situation for any homeowner. If you have come across a homeowner who is facing this problem, you should know that there can be a number of reasons behind this. One of the reasons behind foreclosure can be the financial stress resulting out of over expenditure or bad investments. Unemployment is another major reason behind foreclosure as it becomes tough for an unemployed person to make his mortgage payments. Among other reasons, divorce and separation can be some. As one partner moves out of the house, it becomes very difficult for the other one to bear the burden … (8 comments)
foreclosure: Find Out Foreclosure and Its Bad Effects
- 09/27/08 02:56 AM
Foreclosure is a process whereby the ownership of a property is taken away from the homeowner when he/she defaults to make his mortgage payments. There are several reasons that lead to foreclosure on a property. Some of them are unemployment, divorce, separation, death, over-expenditure, and bad investments. In case you are envisioning a foreclosure on your property, you need to know about the various effects that foreclosure can have. Apart from losing your property, it will lead to the loss of equity that you have earned on your home over the years. This can result in losing a huge amount on … (2 comments)
foreclosure: Find Out The Effects of Foreclosure on Your Credit Report.
- 09/27/08 02:49 AM
In case there is a foreclosure situation in your locality, you must know what effects foreclosure can have on your credit report. Foreclosure activity usually starts off within 3-4 months after a homeowner has defaulted on his payments. In case the lender is able to foreclose a property and get it sold in an auction at a price that is lower than what the homeowner needs to repay, then the lender can ask the homeowner for deficiency judgment. This deficiency judgment will reflect on the homeowner’s credit report. Another impact that the foreclosure can have on the credit report of the … (3 comments)
foreclosure: Closing Costs: An Important Component Of Buying A home.
- 09/26/08 03:10 AM
When you plan to purchase a home, you should know about the various closing costs that you have to bear. There are several payments that you need to make while closing the deal on your property. These fees are to be made to various bodies for their services that they have provided to you in buying the home. You need to pay additional fees to the lenders and real estate brokers on the basis of the service they have extended to you. You may need to pay an application fee initially, and later on make the processing fee payment. Some of … (1 comments)
Foreclosure is a tough situation for any homeowner. If you have come across a homeowner who is facing this problem, you should know that there can be a number of reasons behind this. One of the reasons behind foreclosure can be the financial stress resulting out of over expenditure or bad investments. Unemployment is another major reason behind foreclosure as it becomes tough for an unemployed person to make his mortgage payments.
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