Sentences with phrase «known as foreclosure»

In case you fail to do the regular payment within the 3 month period, then the bank has the legal right to take possession of your house or property and this process is known as foreclosure.

This is known as foreclosure.

When a buyer is unable to make the mortgage payments, the lending institution exercises its legal right to take over the property, known as foreclosure, trying to recover the balance of the loan.

Not exact matches

This undesirable outcome is known as a «deficiency judgment,» and it can occur after both short sales and foreclosures.

Just a few short years ago, the real estate market was flush with foreclosures, a result of the economic downturn and accompanying real estate bust as people could no longer afford their mortgages.

The following year, after the nationwide scandal over bank employees signing thousands of foreclosure documents without proper review, known as robosigning, broke, New York began requiring plaintiffs in foreclosure cases to affirm the accuracy of their documents.

Will the people who got us into this economic mess, the people behind the massive foreclosures — and we know who they are — will they be carry the burden as much of the poor and middle class New Yorkers?»

[32][33][34] As home mortgage foreclosures increased, and details of the 2009 stimulus legislation became known, more organized protests began to emerge.

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The Federal National Mortgage Association — known as Fannie Mae — sells property it acquires through foreclosure, deed in lieu of foreclosure or forfeiture.

They will need to sign the deed over to the lender; this process is known as «Deed in lieu of foreclosure.»

As far as I know, the effect of foreclosure will be the samAs far as I know, the effect of foreclosure will be the samas I know, the effect of foreclosure will be the same.

Specializing in standard home sales, short sales, and bank foreclosures (also known as REOs or Bank Owned Homes).

If you have been through a previous short sale, bankruptcy or foreclosure, there could be a waiting period (known as a «seasoning period») of two to three years before you can qualify for a mortgage.

Many large mortgage servicers reached settlements with regulators to address a range of troubling practices, including a practice known as robo - signing, where banks submitted foreclosure documents that were not properly reviewed or notarized.

In other words the seller would just default which is known as a strategic foreclosure.

In the mortgage market, they are known as adjustable rate mortgages and were partly to blame for the record foreclosures of a few years ago.

The letter must support the claims of extenuating circumstances; confirm the nature of the event that led to the bankruptcy or «foreclosure - related action» (also known as a short sale in Fannie Mae terminology), and illustrate the borrower had no reasonable options other than to default on his or her financial obligations.

Although relatively rare, abandoned foreclosures, also known as bank walkaways, are concentrated in certain areas, generally in... View Article

Most foreclosures do not happen because people can pay their mortgages and choose not to, known as a strategic default.

but just as a side note, I don't know all of your particular situations but in many cases an extra income of $ 500 to $ 750 per month can save the home from foreclosure.

You should know your legal rights as a homeowner being faced with foreclosure.

Also known as a sales compromise, a short sale involves the lender and the homeowner agreeing to sell the property in order to avoid a foreclosure.

She contends that we have been relying too heavily on that limited foreclosure prevention - methods partly because another more complete form of debt relief, bankruptcy, is no longer as attractive to consumers.

It was formerly known as the Mondrian SoHo, which was sold in a foreclosure sale in June of last year.

Versions of real estate fraud are sometimes known as title fraud, mortgage and foreclosure fraud and online real estate scams.

I know full well how pro se litigants are treated as I have been doing our own foreclosure proceeding for five years and I know the problem of poor people obtaining a lawyer in a civil matter.

In other cases our Dawson Creek Family Lawyers know the home must be sold to free up money to settle the case, to pay off arrears on a mortgage, to salvage as much equity as possible if foreclosure proceedings have been commenced or lastly to facilitate a fair division of Dawson Creek family property after trial.

As part of Life Insurance Awareness Month, we want you to know that there are many ways that life insurance could help protect your family from experiencing the financial stress of falling behind in payments, or worse, risk losing their home to foreclosure if you were to suddenly pass away.

As he became known as the king of foreclosures in his area — his brokerage sold more than 800 bank - owned and HUD properties last year — it became more difficult to get conventional listingAs he became known as the king of foreclosures in his area — his brokerage sold more than 800 bank - owned and HUD properties last year — it became more difficult to get conventional listingas the king of foreclosures in his area — his brokerage sold more than 800 bank - owned and HUD properties last year — it became more difficult to get conventional listings.

In some cases, banks can decide that the seller no longer has a hardship, pull the home from the market and put it back on 2 - 3 months later as a foreclosure with a different listing agent.

So, if you're new, it may make sense to know your note seller, check your contracts, use a document custodian, and by all means, use a licensed servicer and foreclosure attorney in the same state as the note you're buying.

In foreclosure - plagued Chicago, Villegas knew she'd have to work longer hours and make twice as many phone calls and emails to get business and help clients.

I myself own a property in Racine which was my primary residence for a short time until I divorced my wife and moved to Chicago... I had it built (stupid, I know but it was what the lady wanted) and ultimately couldn't sell it when I moved as it is in a new subdivision and there are a lot of nicer, bigger, slightly older homes for sale in the area for less than what I owed on my loan, plus there are more than a few foreclosures / vacancies in this neighborhood.

Condo Loans Reacting to losses sustained during the wave of foreclosures resulting from the subprime mortgage market meltdown, FHA — along with Fannie Mae and Freddie Mac (also known as government - sponsored entities, or GSEs)-- tightened lending standards for condo loans across the board.

As we all know, many former mortgage brokers, title agents, and related professionals now specialize in foreclosure rescue.

If you have a foreclosure deadline, we need to know that as soon as possible, so please be sure to include that in this section.

Also known as interim financing, gap financing, or short - term financing, a bridge loan can be used in many ways: to provide immediate cash for quick closings; to make an advantageous purchase; or to help a borrower avoid a default or foreclosure.

We have the resources to list and sell your house as a short sale, and we know how to price your property to peak buyer interest and initiate buyer activity to short sale your home before foreclosure concludes and you are God forbide left homeless.

Larry believes that walking away from your home (otherwise known as a «Strategic Default») is not the preferred method of handling a mortgage foreclosure due in part to deficiency judgment and credit concerns.

Furthermore, if you know you have a unique credit situation such as a recent short sale or foreclosure; child support or alimony payments; or gift funds from a relative, have the relevant, related documentation ready.

As a Birmingham Alabama home owner, you need to know that you have options when it comes to skirting foreclosure.

A great example of this is commonly known as a pre-foreclosure «short - sale» where a bank accepts less than owed for the property in order to sell it quickly to avoid a lengthy foreclosure process or simply to remove any non-performing assets from their books.

«At the moment distressed properties, also known as short sales, foreclosures, bank - owned property, and notice - of - default - filed property make up only 14 percent of the inventory of available properties in the county.

She also said competent and qualified appraisers know how to use distressed sales, such as foreclosures, as comparable sales when determining a reliable, credible opinion of value.

As I write this, we don't yet know the extent of the foreclosure freeze problem.

Obviously, the economic development people don't want their state to be known as the No. 1 foreclosure state.

Over the past couple of years the civil courts of Lee County have been handling foreclosure files quickly or also known as the «rocket docket».

They will need to sign the deed over to the lender; this process is known as «Deed in lieu of foreclosure.»

When you know how foreclosure in Missouri works... it arms you with the knowledge to make sure you navigate it well and come out the other end as well as possible.