All Posts Tagged With: "days"
Foreclosures: No Mortgage Payments For Years
We keep hearing reports that mortgage foreclosures and delinquencies are down and here’s why: Lenders are plainly not foreclosing once a borrower has missed three monthly payments. So why have foreclosures stalled? The answer is that the process of recording mortgage notes is so screwed up that it’s stopped foreclosure activity worth hundreds of billions [...]
31Aug2011 | Peter G. Miller | 0 comments | Continued
New Pro-Borrower Mortgage Rules Set For July 30th
It will be a new deal for real estate borrowers as of July 30th. That’s the day when new standards developed under the Housing and Economic Recovery ACT (HERA) go into effect. Okay, so what’s the big deal? In basic terms, the rule says that if you apply for a loan on July 30th or [...]
13Jul2009 | Peter G. Miller | 2 comments | Continued
What Are The Three Basic Forms of Foreclosure Notices?
In general terms there are three forms of foreclosure notices: A Notice of Default — a public notice that loan payments have been missed. A Lis Penden — notice of a suit against a property owner. A Notice of Sale — essentially an announcement giving the time and date of a planned foreclosure sale. If [...]
1Sep2008 | Peter G. Miller | 0 comments | Continued
How Quickly Must I Apply For A Mortgage?
Many sale agreements require buyers to apply for a mortgage within a specific time period, say seven to ten calendar days after the contract is signed. This is a negotiable item, however, and can be any period agreeable to both parties. This is an important matter because if an application is not made, then a [...]
31Aug2008 | Peter G. Miller | 0 comments | Continued
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