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Home » Archive by category 'Foreclosure'

Foreclosure Q and A’s: Staying Informed

Q: What does it mean to be in foreclosure?

A: According to dictionary.com, to foreclose is to deprive (you) the mortgagor of the right to redeem mortgaged property, when payments have not been made. When you have missed two months worth of payments you have defaulted on your loan, but you are not yet in foreclosure. The foreclosure proceedings will not initiate until the mortgage lender or bank submits paper work to a prosecuting attorney. Read full article »

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5 Ways to Avoid Foreclosure

Latest News

Some struggling homeowners find way to dodge foreclosure (USA Today)
Though the number of homeowners facing or going through foreclosure has surged filings rose 55% from July 2007 to July this year thousands of other homeowners on the verge of losing their homes are finding last-minute ways to ward off foreclosure. These tales have become the little-known success stories of the worst housing slump in decades. For a smattering of today's distressed homeowners, ...
Record 1.2 million homes hit by foreclosure (CNN Money)
A record 1.2 million homes were in foreclosure during the second quarter of 2008.
9% of homeowners are late with bill or in foreclosure, study says (USA Today)
An industry group says a record 9.2% of American homeowners with a mortgage were either behind on their payments or in foreclosure at the end of June, as damage from the housing crisis continues to mount.

Provider: Yahoo! News

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