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Category Archives: Foreclosure

Is Your Lender Threatening to Foreclose on Your Home?

Is your lender threatening to foreclose on your home? You aren’t the only one in this difficult situation. Foreclosure rates across the nation are high and they have been high for some time. Yet homeowners who are facing foreclosure often feel like they have no viable options to stop the process. However, this isn’t necessarily true. There are a number of foreclosure defense strategies …

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Do Homeowners Have Legal Protections?

If you are a homeowner and you are struggling with your mortgage payment you may be worried about foreclosure. If so, focus some of your efforts to learn more on finding out what laws there are in place designed to protect your rights as a homeowner. Did you know that there are federal laws that protect homeowners during foreclosure?

Federal laws offer homeowners facing foreclosure

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Do Lenders Sometimes Bend the Law During Foreclosure?

A lot of homeowners assume that if their lender is taking official, legal action, they are in the right. After all, this is a major institution and they know what they’re doing, right? Yet, the recent news about Wells Fargo and the hundreds of loan modifications they denied due to an error/miscalculation, is proof that this isn’t necessarily the case. It’s leading more homeowners to …

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In the News: Wells Fargo Software Glitch Causes 545 Foreclosures

In the News: Did you know that a calculation error can cost you your home? At least that’s the case with 545 of Wells Fargo’s borrowers. The mistaken home foreclosure issue has been all over the news and homeowners aren’t sure what to think.

The 545 mistaken home foreclosures occurred throughout the past eight years. The number of mistaken home foreclosures was previously estimated at …

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Do You Know Your Foreclosure Rights?

If you’ve missed a few mortgage payments, you’re probably worried about the threat of foreclosure. The possibility of losing your home is often completely overwhelming. The overwhelming nature of the situation leaves many homeowners inclined to bury their heads in the sand – ignoring the foreclosure proceedings with the subconscious decision to simply accept the situation fate handed down.

However, ignoring the situation means ignoring …

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The Timeline of the Foreclosure Process

When you fall behind or stop making your mortgage payments completely, it’s important to know the potential consequences. Do you understand the foreclosure process? Do you know what to expect and when to expect it? When a borrower fails to make payments, the lender can foreclose on their home, but they must follow very specific legal requirements when doing so.

The Common Foreclosure Process Timeline:

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How to Delay or Stop a Home Foreclosure

Have you missed more than three of your mortgage payments? Has your lender filed a Notice of Default (NOD)? If so, you may think that there’s no way to stop the foreclosure on your home, but even at this late stage, you can get help to avoid foreclosure.

What To Do When You’re Facing Foreclosure:

  1. Negotiate with the Lender: Before your home is actually
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Getting to Know Your Foreclosure Related Documents

Did you know that when you’re looking for answers about your foreclosure, the answers are in your loan and foreclosure documents? Homeowners who are facing a potential foreclosure should remember not to panic or ignore the situation. It’s important to understand what’s going on and that information is found in your documents.

It’s important to understand what is included in your various loan paperwork: …

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Do You Have to Be in Foreclosure to Get a Loan Modification Approved?

Are you planning to apply for a loan modification? In some ways, it is similar to applying for a mortgage. Both require that the lender consider your income, and the stability (expected continuation) of your income. When applying for a loan modification, the lender will also take your equity into consideration. Many believe that the lender will not approve a loan modification unless the …

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The First Step in the Loan Modification Process

Are you struggling to make your mortgage payments each month? Are you distressed at the potential loss of your home to foreclosure? If so, a New York loan modification may be your best chance for a fresh start.

Definition: Loan Modification

A loan modification is when a permanent change is made to one or more of the terms in your original mortgage agreement. The

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