Blog
Foreclosure and Divorce: What are your Options?
Dealing with a foreclosure while going through a divorce can lead to a number of issues. Generally, couples are seeking answers to questions like: Who will get the house? Who will pay the remaining mortgage debt? The responsibility of debt and the ownership of the house will be determined based on the particular circumstances of your marriage and laws affecting your situation. Who is Responsible to Pay the Mortgage? The answer to this question largely depends whether the mortgage loan was taken out before or after the marriage. In most cases, m...
Understanding the Role of Hardship Letters in a Short Sale
If you are a homeowner finding it difficult to make regular mortgage payments, you may want to consider a short sale for your home. But for executing a short sale, you need to get approval from your lender. The process can be initiated by writing a hardship letter which comprises of details about your reasons of going for a short sale. What is a Hardship Letter? A hardship letter is an essential part of documentation when you are making an application or request for a short sale to your lender. The letter provides the lender a clear picture of ...
Common Types of Foreclosure Scams You Should Know About
When going through a foreclosure, it is natural for any homeowner to panic and resort to any solution that allows them to keep their home. You may encounter some people who will label themselves to provide mortgage or foreclosure relief to homeowners in distress. But in reality, they are scam artists with the intention to make profits from your financial misfortune. They will make big promises that they will reduce payments or even pay your mortgage and guarantee to save your home. Some might even go to the lengths of claiming to be working wit...
What Is a Short Sale Deficiency Judgment and How Can It Be Avoided?
A short sale is a good option for homeowners facing difficulty in paying off their mortgage debts. The lender agrees to take the sale price at which the house is sold, even if it is less than the mortgage amount, allowing the homeowner to avoid foreclosure altogether. However, there are situations where the lender seeks a short sale deficiency judgment against the homeowner several months or years later, leaving them surprised as to why they still have to make mortgage payments after everything has been settled. What is a Short Sale Deficiency ...
What Are Your Rights as a Tenant If Your Rental Is Being Foreclosed?
Most tenants are unaware of whether their landlord is making timely payments of their mortgage. In most cases, tenants are caught by surprise when they get the news that their rental is being foreclosed and they will have to vacate their home. Due to this, tenants are left out in cold with little time on their hands to find a new place that matches their rental budget. If your rental home is about to be foreclosed or you received a notice to vacate the premises after foreclosure, you should talk to a reliable and experienced attorney to help yo...
Contact Our Office
