Is your mortgage loan forgiven when you outlive the lender? Certain legal loopholes may make it a possibility, but don’t bet on it. Q: I have paid $30,000 of a $60,000 mortgage on vacant land but then got behind on payments. The owner has failed to foreclose. I have continued to pay the real estate [...]
Because lenders have the right to place a lien on any investment property you own, it’s important to act quickly or risk losing the property altogether. Q: A bank foreclosed on a property I owned with a business partner. The bank sold the property but the proceeds from the sale weren’t enough to cover the [...]
After foreclosure, homes go to sheriff's sale to satisfy the amount owed on the mortgage. Whether you still owe money after the sale depends on a few factors. Q: My house sold at Sheriff's auction to my mortgage lender. They have recently sold it, how do I get information that my loan was covered and [...]
Home prices are rising and foreclosures have gone down but several risk factors still face the 2014 housing market recovery. Daren Blomquist, Vice President of RealtyTrac, shared these four trends for the 2014 housing market recovery. RealtyTrac is a company that collects and analyzes real estate data and is one of the only major real [...]
Christmas Gifts: A Lump of Coal for the Housing Industry. Yesterday afternoon, I sat in on a conference call about covering the foreclosure crisis. But it wasn't so much a lesson in foreclosure journalism (if there's such a thing) as it was a discussion of where we are in the now four-year housing crisis with a dash of speculation as to when we might get out of here.