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8. Refinance with a hard money loan. You won’t like the high interest rates and fees of a hard money loan — one from a private lender, often an individual — but it might buy you some time to ...
A foreclosure occurs when a lender takes control over a property from a borrower for failing to make timely payments. A foreclosure can damage your credit score and result in loss of property. As ...
A loan modification is the process of permanently changing your existing mortgage so it’s easier to manage. The goal of a mortgage modification is to reduce your monthly payments to an ...
Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan.
If the debtor sells the real property to a third party before the creditor has filed a bill in equity, the property may still be seized and sold, but this must be done within ten years from the date that the lien was docketed. Furthermore, no extension of the judgment statute of limitations is available against property that the debtor has sold.
Foreclosure consultant. Although the definition may vary by jurisdiction, foreclosure consultant generally means any person who makes any solicitation, representation, or offer to any owner to perform for compensation or who, for compensation, performs any service which the person in any manner represents will in any manner do any of the ...
For example, in Alabama, borrowers have the right for up to one year after foreclosure, while Illinois gives borrowers just 30 days after the sale. Limitations of right of redemption
Loss mitigation means a mortgage lender or servicer will offer relief or repayment options to a borrower struggling to keep up with their loan payments. Your servicer might refer to this process ...
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