You are behind on your mortgage payments and you know that you’re not going to be able to play catch-up before the bank begins the dreaded foreclosure process. If there are no other options for you at this point, you may consider arranging a short sale instead of going through the stressful experience of a [...]
(c) 2008 Troy Foote
To understand the foreclosure process one must know what it is first. So what is the definition of foreclosure? Simply put, the foreclosure process as applied to residential mortgage loans is a bank or other secured creditor selling or repossessing a parcel of real property (immovable property) after the owner has failed [...]
There is no doubt that it is entirely possible for you to work on your own with the bank to come to a mutually amicable solution to your foreclosure problem, but you must also keep in mind that time is of the essence in dealing with loan modifications. While you are trying to deal with [...]