Articles Posted in Mortgage

Financial hardship looms large for many individuals, a scenario compounded by challenges like foreclosure, where a property owner’s right to ownership is relinquished due to reasons such as the inability to meet mortgage obligations. When these debts stack up and creditor pressures mount, bankruptcy often enters the conversation as a means of finding relief and…

The rise in mortgage interest rates is influenced by the Federal Reserve raising the federal funds rate. The federal funds rate is the rate at which depository institutions lend reserve balances to other depository institutions overnight on an uncollateralized basis; meaning the funds are not backed by an asset. The federal funds rate is the…

A foreclosure is the legal process by which a lender, typically a bank, takes back possession of a property after the borrower has failed to make loan payments. The bank then sells the property in an attempt to recoup its losses. Foreclosures can be lengthy and expensive processes and often lead to the displacement of…

A mortgage loan modification is a process where the terms of a mortgage are changed to make the payments more affordable. This can be done by extending the term of the loan, reducing the interest rate, or both. It may also change the structure of a loan such as an adjustable to fixed rate loan.…

It is not uncommon for people who have fallen into financial troubles to take out a second mortgage on their home. Often people take a second mortgage to lower their monthly payments or to free up additional credit within the loan to make modifications to the home they cannot afford out of pocket. In the…

For most people, a mortgage is linked to their most expensive asset; and debt. If the debts owed on your home become too high of a financial burden to bear, you have a short window to seek help for your missed payments before losing the home. Foreclosures 101 Foreclosure is a legal process by which…

Getting behind on your house payments can happen to the best of us. Whether job loss, medical costs, or other life stressors have led you down a road to mortgage debt; there are solutions that can resolve your problems with mortgage debt. Foreclosure Or Bankruptcy? There are two general types of foreclosures — judicial and…

For most people, a mortgage is their most expensive asset and largest debt. If the debt owed on your home becomes too high of a financial burden to bear, you have a short window to seek help for your missed payments before losing the home. Foreclosures 101 Foreclosure is a legal process by which mortgage…

If you are behind in your mortgage payments and worry you may lose your house to your lenders, you may want to consider filing bankruptcy. Bankruptcy can stop the foreclosure process by implementing the automatic stay, which stops most collection attempts against you. Filing bankruptcy will not stop the foreclosure process forever, and it will…

Insolvent consumers who are not able to stay current with their mortgage payments may face foreclosure proceedings from their mortgage lender. Due to the number of California foreclosure avoidance measures available to you, avoiding these mistakes will help steer you in the right direction toward defense against foreclosure. Waiting too Long to Take Action Waiting…