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Mortgage Professor about mortgage 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... Can a Mortgage Lender Profit From Foreclosure? December 7, 1998, Revised January 30, 2004 "I have lost my home! The second mortgage lender foreclosed after buying the first mortgage, which was current under a forbearance agreement. The first mortgage lender informed ... more... |
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mortgage foreclosure related definitions |
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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... First Mortgage First Mortgage A mortgage that has priority as a lien over all other mortgages. In the case of a foreclosure the first mortgage will be satisfied before other mortgages. ... more... |
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More about mortgage foreclosure Home Loans and Mortgages Tips to Avoid Foreclosure Getting The Best Home Equity Loan Tips for Avoiding Foreclosure Tips For Getting A Low Downpayment Behind on Your Home Mortgage Payment? Work with Your Lender! Buying Properties in Foreclosure and Pre-Foreclosure! Home Equity Foreclosure Often Not Necessary in Current Market Five Things Never To Tell Your Mortgage Lender When Facing Foreclosure The Foreclosure Process Home Loans and Mortgages Beware of Deed Theft Scam
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