All Posts Tagged With: "default"
Is it good not to pay your mortgage loan?
Is it a good thing if you don’t pay your mortgage? The usual answer is a fat “no” after which comes a discussion of foreclosures, diving credit scores, ugly credit reports, deficiency judgments, loan denials and higher interest costs for mortgage loans and automobile financing. And yet there’s a strange and somewhat logical theory floating [...]
25May2011 | Peter G. Miller | 1 comment | Continued
Can Bi-Weekly Loans Stop Mortgage Foreclosures?
If you have a bi-weekly mortgage will your payments be more in line with your paycheck, thus lowering your costs and reducing the chance for foreclosure? Imagine that a household has two wage-earners who take in $100,000 per year. Lenders allow them to finance with monthly payments equal to 31 percent of their income or [...]
28Mar2011 | Peter G. Miller | 0 comments | Continued
Foreclosure discount now 32% — have home values hit bottom?
Foreclosed properties now represent 25 percent of all home sales nationwide, properties which are selling at a 32-percent discount according to the latest report from RealtyTrac. The problem represented by distressed properties is that they hold down the values of nearby homes. If a house down the street is selling for a third off, or [...]
2Dec2010 | Peter G. Miller | 0 comments | Continued
August Foreclosure Levels Top 300,000 for 18th Month In A Row
Foreclosures held relatively steady in August, according to the latest monthly report by RealtyTrac (www.realtytrac.com). The company’s report for August 2010 shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 338,836 properties in August, a 4 percent increase from the previous month but a 5 percent decrease from August [...]
16Sep2010 | Peter G. Miller | 0 comments | Continued
How To Get A Successful Loan Modification (With Obama Update)
Is it possible to get a mortgage modification without being foreclosed or behind on your payments? For an increasing number of borrowers the answer is “yes” because recent changes in the mortgage industry now make loan modifications more likely than at any point since the financial meltdown began. For much of human history mortgage lenders [...]
22Jan2009 | Peter G. Miller | 8 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
© Copyright 