Deficiency judgments are a ticking time bomb

Troubled homeowners who have gone through a foreclosure or a short sale may have a lurking problem that could cause them problems years down the road. Even though you think you may have put a bad chapter in your life behind you, the lender can still come after you with a deficiency judgment. A deficiency [...]

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Lender refuses to cooperate with short sale

Short sales would appear to be the best answer to a bad situation. The borrower can’t carry the mortgage payments, the loan is more than the house is worth. With a short sale, the lender agrees to take less than the loan in exchange for a buyer that keeps the house off their hands. Seems [...]

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Loan modification handbook

In dealing with a toxic mortgage you can no longer carry, so far I have identified three options: Stop making payments and let the bank foreclose on you. Find a buyer and negotiate a short sale with the bank Keep the property and get a loan modification I’ve written about short sales previously in this [...]

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Short sales, a solution for distressed homeowners with no equity

As promised here is a bit more on short sales. I want to do a brief overview on what they are.  This is not by any means a complete writeup.  If you are a homeowner that is in over their head, has no equity and are looking for a way to avoid foreclosure, you might [...]

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