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That depends on what the outstanding balance of your loan is, the value of your home, and how much the bank will settle for. There are actually companies that will work with you for free to buy your mortgage away from your mortgage company and avoid your foreclosure. I would advise looking into this first.
Foreclosure takes care of your loan with the bank, so unless you owe more than your home is worth, you shouldn't have to worry about them coming after your other assets. There are actually companies that will work with you for free to buy your mortgage away from your mortgage company and avoid your foreclosure. I would advise looking into this first.
It actually depends on your state, as the foreclosure laws are set by state. There are actually companies that will work with you for free to buy your mortgage away from your mortgage company and avoid your foreclosure.
There are actually companies that will work with you for free to buy your mortgage away from your mortgage company and avoid your foreclosure. I would advise looking into this first.
There are actually companies that will work with you for free to buy your mortgage away from your mortgage company and avoid your foreclosure. I would advise looking into this first.
That depends on your state. The laws for foreclosure are set by state. There are actually companies that will work with you for free to buy your mortgage away from your mortgage company and avoid your foreclosure. I would advise looking into this first.
Technically you are eligible for foreclosure the day you miss a payment, but in practice this is never the case. Most lenders will begin the foreclosure process after 3 payments are missed, but that does not mean the home will be foreclosed. Many lenders are required by law to work with the borrower to modify the loan, or otherwise demonstrate significant effort to avoid the foreclosure. Many foreclosures take 6 months to a year to complete. This varies greatly by state, loan type, and investor/owner of the loan.
Private mortgage insurance or PMI is insurance to protect the lender if the home is foreclosed upon and there is a deficiency. That deficiency is paid by the insurance company. It would not appear to have an effect on the foreclosure proceeding, just on your liability for a deficiency. However it is to your advantage also to have MI if your house goes into foreclosure. Not only do they pay the lender and cure a portion of the definciency, but often they get involved up front and try to work with the borrower and lender both to avert the foreclosure. That way they are paying a lower claim and the borrower gets to keep their house. I've even heard of the insurance company helping the borrower get short term loans, renegotiate the mortgage or helping them find a buyer.
Seven years! There are actually companies that will work with you for free to buy your mortgage away from your mortgage company and avoid your foreclosure. I would advise looking into this first.
"Every mortgage lender or mortgage servicer offers mortgage loan modification. There are also many third party companies that offer mortgage loan modification, but work with them at your own risk."
That depends on the state that your foreclosure is filed in. There are actually companies that will work with you for free to buy your mortgage away from your mortgage company and avoid your foreclosure. I would advise looking into this first. Try http://www.speedyrealestate.info. Good luck!
Majority of the time it depends on the investor of your loan as well as the company that services the mortgage. Most companies will require that you have deed in lieu paper work submitted a certain amount of time before a foreclosure sale.