Going through a foreclosure can be very stressful, and not knowing the long-term effects of a foreclosure can add even more stress. The impact on your credit score is probably a negative effect of foreclosure that you haven’t considered before. It’s important that you know that a foreclosure will impact your credit after your home…
Lenders will try to make up the difference left over when a homeowner defaults on their mortgage loan, and one of the most common ways they do that is through a sheriff’s sale. For traditional foreclosures in New Jersey, lenders typically sell a foreclosed property to the highest bid during a sheriff sale. However, a…
A common question we get is, “can a foreclosure lawyer stop foreclosure?” The short answer is yes, a lawyer may be able to stop foreclosure, but it depends on the situation. Working with a foreclosure lawyer to help you throughout the foreclosure process brings a wealth of knowledge to help you in your case. The…
USDA loans are similar to conventional loans. However, there are important differences you should be aware of, including how they go through foreclosure. The U.S. Department of Agriculture requires lenders to follow specific loss mitigation rules before foreclosing on a USDA home. If you have a USDA loan and are struggling to make mortgage payments,…
Having negative reports on your credit report can negatively impact your credit score. This can be an issue, especially if the negative reports are inaccurate. If you’ve successfully stopped a foreclosure, your credit report may even reflect a foreclosure that didn’t happen. If you have incorrect reports on your credit report, you can dispute items…
Navigating mortgage modifications and struggling to make mortgage payments can be difficult. As a homeowner, it can be difficult to understand your options if you’ve had a loan modification and are struggling to make your monthly mortgage payments. If you’ve had a loan modification, it’s understandable that you may be wondering about your refinance options….
The U.S. Department of Agriculture sets loss mitigation rules that lenders have to follow for homeowners with USDA loans. If you have a USDA loan and are struggling to make mortgage payments, there may be loss mitigation options available to you. The USDA loss mitigation guide sets rules for lender action on delinquent mortgages. If…
The Federal Housing Administration (FHA) loss mitigation options are outlined for homeowners with an FHA loan who are delinquent on their mortgage or struggling to make mortgage payments. The FHA also outlines these loss mitigation options for lenders issuing FHA-backed mortgages. Lenders are expected to follow the loss mitigation guidelines and offer these options to…
Title insurance can be a useful tool for homeowners. It can help them protect their homes and their titles. Having title insurance is recommended and sometimes required when purchasing a home that’s been foreclosed on. Title insurance can also be useful if you’re purchasing a home that hasn’t been involved in a foreclosure. Joshua Denbeaux…
Are you being foreclosed on by Loan Funder LLC? You may be able to defend your property from commercial foreclosures by Loan Funder LLC. Lenders like Loan Funder LLC must comply with federal laws regulating lending and business practices. You may be able to fight against a commercial property foreclosure if your lender breaks federal…