All Posts Tagged With: "foreclosure"
Mortgage Paid? How Do I Know?
It would be nice to report that every mortgage payment is promptly received and correctly processed. However, it follows that in a country with some 45 million first mortgages that there are millions of opportunities to screw up and that sometimes loan payments made in good faith are not properly handled.
What can you do?
If [...]
9Mar2010 | Peter G. Miller | 0 comments | Continued
What Are Private Mortgages?
We usually think of real estate financing in terms of loans from banks, mortgage brokers, mortgage banks, credit unions and insurance companies. In fact there’s another source of real estate financing, private mortgages.
Private mortgages can be alluring and in some cases financially dangerous. In the best case a private mortgage will provide a low rate [...]
What Kind of Foreclosure Title Can I Expect?
With huge numbers of foreclosed properties now available for sale you have to wonder what type of title you might expect if you purchase one of these distressed homes.
The lender selling REOs (real estate owned by a bank or other lender) does actually care how you own title, What it does care about is that [...]
Is Walking Away Right With A Commercial Mortgage?
What happens if you borrow billions of dollars to buy real estate and then get foreclosed?
It’s just a guess, but I bet you don’t get harassing phone calls or threats that your stuff will be on the street by Tuesday. Instead, you get a foreclosure notice such as the one below.
How did this happen?
In [...]
What’s A Typical Foreclosure Fee?
When a lender seeks to foreclose a number of fees can arise. There will be, for example, a foreclosure fee paid to an attorney. If the property is auctioned off then the local sheriff or court will want a fee. There are typically an assortment of fees to be paid just to get the matter [...]
17Feb2010 | Peter G. Miller | 0 comments | Continued
What Makes A Foreclosure Settlement Different?
When you purchase a foreclosed property from a lender the transfer process is largely the same as if the purchase involved property from a typical seller. Largely the same — but not the same.
A closing, settlement or escrow is merely an accounting of who owes what to whom. Among the interests represented at the closing [...]
What Is The BPO Foreclosure Connection?
When lenders take back a property through the foreclosure process they want two things: They want to know how much it’s worth and they want to know as cheaply as possible.
One way to determine value would be to get an appraisal of the property. Appraisals are independent estimates of value developed by licensed appraisers, valuations [...]
What Paperwork Do You Need To Get A Mortgage?
One of the biggest problems with the government’s Making Home Affordable loan modification program is that a large number of borrowers are making their payments but do not provide required paperwork — and thus are unable to permanently refinance their mortgage with a new and lower rate. Because they did not provide required paperwork these [...]
1Feb2010 | Peter G. Miller | 0 comments | Continued
2009 Metro Foreclosures Show Spreading Problems
The nation’s metro-area foreclosures continue to be concentrated in California, Florida, Nevada and Arizona — but homeowner losses are spreading to other cities as well. On the good side, a number of metro areas show declining foreclosure rates.
Figures for 2009 by RealtyTrac, the leading online marketplace for foreclosure properties, show that of the 20 metro [...]
What’s A “Deed In Lieu” Of Foreclosure?
There were more than 3.5 million foreclosure notices sent out last year, a total which does not include homes lost with something called a deed in lieu of foreclosure.
What is a “deed in lieu” of foreclosure and is it good or bad?
Good & Bad
In basic terms, a deed in lieu of foreclosure works like this: [...]
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