What Is A Real Estate Owned Property?

A real estate-owned property is one potential outcome for a home in the foreclosure process. If you are facing foreclosure, your home could end up as a real estate-owned property. It’s understandable that you might have questions about real estate-owned properties and how they work.  Foreclosure is a big deal. If you’re facing foreclosure on…

Effects Of High Interest Rates On Foreclosure

High interest rates have been shown to correlate with higher foreclosure rates. When mortgage interest rates are higher, the percentage of foreclosures tends to increase. Interest rates continue to increase, and so do foreclosure rates. Higher interest rates and foreclosure can cause financial difficulties for homeowners. Whether you’re a new homeowner with a higher-interest loan…

How Does Foreclosure Work After A Divorce?

Homeownership and divorce can be extremely complicated, even after the divorce is finalized. As couples navigate divorce, they have to decide who’s responsible for the debt under the current mortgage. It’s important to remember not to let a property go into foreclosure just to spite your ex, no matter where you are in the divorce…

Foreclosure On Vacant And Abandoned Properties

Foreclosure on abandoned properties can be a different process than typical foreclosure. There are different criteria for lenders, and the foreclosure process can be different. If you’re facing foreclosure, you may wonder if simply abandoning your property may help you avoid the entire process, but there’s more to know about this tactic before you decide…

How Does Foreclosure Affect Rental Properties In New Jersey?

Going through foreclosure can be a complicated process. If a property going through foreclosure is a rental property being foreclosed on, it can be even more complex. Like any foreclosure, a foreclosure on a rental property impacts the owner. What may be easy to forget is that foreclosure on a rental property can also impact…