Understanding Foreclosure

By
Real Estate Agent with Evergreen Realty 01272786

It is an unfortunate commentary, but when economic activity declines and housing activity decreases more real property enters the foreclosure process. High interest rates and creative financing arrangements also are contributing factors.

In the foreclosure process, one thing should be kept in mind: as a general rule, a lender would rather receive payments than receive a home due to a foreclosure. Lenders are not in the business of selling real estate and will often try to accommodate property owners who are having payment problems. The best plan is to contact the lender before payment problems arise. If monthly payments are too hefty, it may be that a lender will be able to make some alternative payment arrangements until the owner's financial situation improves.

Let's say, however, that a property owner has missed payments and has not made...

(To read the rest of this article please visit my website at http://www.jcarrie.com/Foreclosure%20Process%20Explained.html)

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
California Orange County
Tags:
orange county
understanding foreclosure
j carrie

Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
2,689

J. Carrie Torres

J. Carrie
Ask me a question
*
*
*
*