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Help For The Property Owner After The Mortgage Default – Steps To Take Before You Meet With A Lawyer
If you have defaulted on your mortgage, time is not your friend. Each month that passes puts you deeper in the hole, with accumulating arrears and late charges. Meanwhile, the bank’s lawyers are running up a bill that will be added to your principal balance. You need to stop this soon to give yourself the […]
Vanishing Subprime Lenders
I have read that more than 210 subprime lenders have closed shop since 2006. For the homeowner in foreclosure this means that refinancing options are very limited. Conventional lenders will usually not refinance a foreclosure “bailout.” Historically, subprime lenders have been the ones to take these riskier loans. There are still hard money private lenders […]
Help For The Property Owner After The Mortgage Default – Steps To Take Before You Meet With A Lawyer
/in Foreclosure & Loan Mod Blog /by Scott LaninIf you have defaulted on your mortgage, time is not your friend. Each month that passes puts you deeper in the hole, with accumulating arrears and late charges. Meanwhile, the bank’s lawyers are running up a bill that will be added to your principal balance. You need to stop this soon to give yourself the […]
Vanishing Subprime Lenders
/in Foreclosure & Loan Mod Blog /by Scott LaninI have read that more than 210 subprime lenders have closed shop since 2006. For the homeowner in foreclosure this means that refinancing options are very limited. Conventional lenders will usually not refinance a foreclosure “bailout.” Historically, subprime lenders have been the ones to take these riskier loans. There are still hard money private lenders […]