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Mortgage Professor about foreclosure: | |||||||||||||||||||||||
Mortgage Payment Problems: What If You Can't Pay?
April 21, 2003 "I lost my job and have been making my mortgage payment from savings. At some point, I will run out of savings. What should I do? Some variant of this letter is appearing in my mailbox with ... more... Options When Equity in Your Home Is Gone April 23, 1999 I have been transferred and need to sell my home. The market has gone down and I owe more than the home is worth. Is there any relief available to allow me to avoid paying the difference to the lender at the time ... more... |
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foreclosure related definitions |
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Foreclosure
Foreclosure A legal process by which the lender or the seller forces a sale of a mortgaged property because the borrower has not met the terms of the mortgage. Also known as a repossession of property. When the process is complete, it is typically said that "the lender has ... more... Delinquency Delinquency Failure to make payments on time. This can lead to foreclosure. First, a mortgage becomes delinquent, when the borrower stops making payments. Second, the delinquency is either reinstated (payments are resumed) or the lender forecloses. ... more... |
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More about foreclosure Tips for Stopping Foreclosure Stop Foreclosure - 7 Tips to Save Your Home Preventing Foreclosure Proceedings and Understanding Your Options Pre-Foreclosure Investing Real Estate Foreclosure and Your Mortgage Financing Options Getting Started in Real Estate Foreclosure Investing What Homeowners Should Know to Stop Foreclosure- Speaking Your Lender's Language Real Estate Investing Foreclosures From Foreclosure to Forbearance - The Art of Negotiation The Value of Foreclosed Property
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