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If you aren’t getting anywhere with your mortgage company, you can obtain free advice and support from a housing counselor sponsored by the U.S. Department of Housing and Urban Development (HUD).
The old saying that home prices never fall obviously wasn't true. But in the following video, Fool contributor Matt Thalman discusses why the "strategic foreclosure" may not have been the smartest ...
Judicial foreclosure: With a judicial foreclosure, the lender files a lawsuit and the borrower is notified of the non-payment. The homeowner has 30 days to make up the missed payments, otherwise ...
A strategic default is the decision by a borrower to stop making payments (i.e., to default) on a debt, despite having the financial ability to make the payments.. This is particularly associated with residential and commercial mortgages, in which case it usually occurs after a substantial drop in the house's price such that the debt owed is (considerably) greater than the value of the ...
YouWalkAway.com developed a strategic default calculator to help homeowners calculate the savings they might have by getting out of an underwater mortgage. [5] In 2012, YouWalkAway.com launched AfterForeclosure.com to help people discover if they were eligible to buy again after a foreclosure or a short sale. [6]
Mobilization for Justice provides free services on “pressing civil legal needs including matters regarding housing and foreclosure; consumer, bankruptcy, tax and employment; a variety of legal issues faced by the aged and people with mental illness and physical disabilities; government benefits and immigration; and legal issues that kinship caregivers and parents of children with ...
Lots of government officials have promised to help homeowners facing foreclosure, but New York City is finally offering homeowners something of real value: free legal aid to help them negotiate a ...
A bank walkaway is a decision by a mortgage lender (a bank) to not foreclose on a defaulted mortgage (when the borrower has ceased to make the payments), or to not complete foreclosure proceedings (to "walk away" from the mortgage).