If you can currently make your payments but you cannot pay your past due amount, you can negotiate with your lender to settle this amount in your principal amount. It is called Loan Modification and in this way you will be able to stop foreclosure by Loan Modification. In case if you are unable to [...]
Posts under ‘Foreclosure’
Mortgage Forbearance Agreement
A Mortgage Forbearance Agreement is a way to stop foreclosure. However it is offered on special circumstances judged by lender bank’s staff. One can request lender bank to review their case for Mortgage Forbearance Agreement by putting it up on Mortage Loss Mitigation departement. Usually Mortgage Forbearance is offered for cases where reinstate of a [...]
Foreclosure Process
Most of people have heard the word foreclosure but they don’t know much about it. Most important thing to know about this is that people facing foreclosures can lose their essential house because of not paying the mortgage. But what really happens during the foreclosure process?
What is Foreclosure?
Foreclosure is in fact the last step of [...]