Foreclosure

A foreclosure occurs when a bank repossesses a house, usually when the person who bought the house has not made mortgage loan payments over several months. The home owner must vacate the home and the bank sells it in a foreclosure. A foreclosure looks bad on a credit report and will make it more difficult for the person who lost the home to buy another one. Foreclosure is the legal action taken to extinguish a home owner’s right and interest in a property, so that the property can be sold in a foreclosure sale to satisfy a debt.

Getting a New Mortgage After Short Sale or Foreclosure

Getting a new mortgageA Mortgage is a document granting a lien on a home in exchange for financing granted by a lender. The mortgage is the means by which the lender secures the loan and has the ability to foreclose …

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How to Avoid Paying Taxes on Forgiven Mortgage Debt

Ilyce Glink explains how to avoid paying taxes on forgiven mortgageA Mortgage is a document granting a lien on a home in exchange for financing granted by a lender. The mortgage is the means by which the lender secures the …

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Investing in Foreclosures | Real Estate Minute with Ilyce Glink

Investing in foreclosures can lead to big gains. Ilyce Glink talks about real estateReal Estate is land and anything permanently attached to it, such as buildings and improvements. investing and foreclosureForeclosure is the legal action taken to extinguish a home …

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Options for Removing Your Name from a VA Loan

In order to remove your name from a VA loanA Loan is an amount of money that is lent to a borrower, who agrees to repay it plus interestInterest is money charged for the use of borrowed funds. Usually expressed …

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Home Prices on the Rise – Real Estate Minute With Ilyce Glink

Home prices are on the rise with fewer foreclosures. Ilyce Glink talks about the fall of underwater homes on today’s Real EstateReal Estate is land and anything permanently attached to it, such as buildings and improvements. Minute. Over the past …

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Avoid Foreclosure With Deed In Lieu – Ilyce Glink’s Real Estate Minute

Ilyce Glink explains how to avoid foreclosureForeclosure is the legal action taken to extinguish a home owner’s right and interestInterest is money charged for the use of borrowed funds. Usually expressed as an interest rate, it is the percentage of …

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Loan Modification Not Enough? Sell Your Home

If your loanA Loan is an amount of money that is lent to a borrower, who agrees to repay it plus interestInterest is money charged for the use of borrowed funds. Usually expressed as an interest rate, it is the …

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Can’t Afford Mortgage: Sell Your Home in a Short Sale

 If you can’t afford your mortgageA Mortgage is a document granting a lien on a home in exchange for financing granted by a lender. The mortgage is the means by which the lender secures the loan and has the ability …

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Can I Qualify for HAMP Program on Disability?

If you are on disability, you might qualify for the HAMP program.  Also think about if you should downsize to a smaller home. Q: I think my mortgageA Mortgage is a document granting a lien on a home in exchange …

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Homeowner’s Association Rules and Fees: Can They Foreclose on Your Home?

The homeowner’s association has rules and fees, and can foreclose on your home and put a lienA Lien is an encumbrance against the property, which may be voluntary or involuntary. There are many different kinds of liens, including a tax …

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