When Foreclosure Rears its Ugly Head, How Do You Prepare?With interest rates adjusting, property values dropping, and our economy getting worse every day, many Americans are in fear of foreclosure or missing their mortgage payments. Obviously, you should make your payments if possible, but what should you do if you can no longer afford your monthly payment?
How to Respond When You are Served with a Foreclosure LawsuitThe first step in the legal foreclosure process is typically homeowners receiving the bank's complaint. This means they have a certain number of days from the date that they were served with the paperwork to serve their answer to the foreclosure complaint on the bank's attorneys and to file the answer with the court clerk's office.
Renting a House in Foreclosure - What Should You Do?Finding out that you are renting a house that is facing foreclosure can be deeply worrisome. And the worst part is that there are so many questions that you may never receive a response to from your landlord and have to begin researching on your own.
How Chapter 7 Bankruptcy Can Help You Stop ForeclosureBecause legal payment arrangements established in a Chapter 13 bankruptcy can often be too expensive for homeowners just recovering from a financial crisis. This is why filing Chapter 7 to eliminate the mortgage and other debt may be a better solution and provide better peace of mind for some borrowers unable to keep their homes.
Eleven Ways to Stop Foreclosure On Your HomeThe list of various methods to stop foreclosure that is presented below is a nearly comprehensive accounting of the most common ways homeowners can use to save their homes, either by staying in them and avoiding foreclosure, or by getting out of a bad situation with as much of their financial lives intact as possible.
The Exteme Makeover Foreclosure and Failing in AmericaThe latest 'celebrity' foreclosure being reported in the news is that of a family who had been featured on the ABC program 'Extreme Makeover.' Although they received a four-bedroom house for free and were also gifted another $250,000 for scholarships and a home maintenance fund, the house is now scheduled for sheriff sale. The outcry among blog authors and critics is a commentary on the contradict
How Tenants can React when Their Landlord is Facing ForeclosureWith the record foreclosure rates, many homeowners are able to see the tragedy coming. Once they know they will lose a job, or a medical crisis suddenly hits, it is just a matter of time before the mortgage payment is missed, and homeowners know it. But, what happens if you are just renting your home and the landlord falls behind on the bills?
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