When financial hardship strikes, many homeowners find themselves juggling not just one mortgage, but two. If you’re considering a short sale to avoid foreclosure, one of the biggest questions you’ll face is: What happens to my second mortgage? It’s a crucial concern and one that can significantly affect your financial future. As any experienced foreclosure […]
Understanding the Notice of Default: Your First Step in the Non-Judicial Foreclosure Process
Foreclosure is a word that can strike fear into the heart of any homeowner. But rather than panicking, understanding the process can equip you with the knowledge to handle it effectively. The first crucial step in the Non-Judical foreclosure process is receiving the Notice of Default. This blog post will guide you through what this […]
Foreclosure vs. Short Sale: What Every Homeowner Needs To Know
When facing financial hardship, many homeowners find themselves having to make tough decisions regarding their home. Among the most critical choices are whether to go through foreclosure or to consider a short sale. Both a short sale and foreclosure have significant implications for your financial health, credit score, and future housing opportunities. Understanding Foreclosure In […]
How Does Foreclosure Work?
The rate of foreclosures for May 2022 in the US was about 1 out of every 4,500 houses. The first step in the foreclosure process is usually a notice of default from your lender. This notice means that you have fallen behind on your mortgage payments, and will state how much you owe and what […]
Legal Options for Foreclosure
Are you behind on your mortgage payments and facing foreclosure? Do you not know what to do or where to turn? You are not alone. Millions of Americans each year find themselves in the same situation. Foreclosure can be a very frightening process, but you have legal options. Learn about how a foreclosure lawyer can […]
How is Chapter 7 Bankruptcy different from Chapter 13 Bankruptcy?
If you are considering bankruptcy as an option for your financial situation, you should know there are a few options. Chapter 7 bankruptcy and Chapter 13 bankruptcy are two of those options, which we have outlined and compared below. Chapter 7 Bankruptcy Chapter 7 bankruptcy is a liquidation process where a person’s assets are sold […]
What is Lien Stripping?
Lien stripping is a way somebody in Chapter 13 bankruptcy can remove lower priority liens. It’s only allowed in cases where the value of the house is no longer enough to cover the outstanding mortgages on higher priority liens. Lien stripping turns the junior mortgage into an unsecured debt that may eventually be discharged. Basics […]
Foreclosures After COVID: What to Know
COVID-19 brought a lot of changes to the world, and most of them are negative. To help offset the financial effects of the pandemic, the U.S. government placed a moratorium on foreclosures, which ended July 31. However, there is still protection for foreclosure-related evictions through September 30, 2021, which is quickly approaching. Here’s what you need […]
When Is Loan Modification the Right Choice?
Many unfortunate circumstances can lead to someone not being financially stable. Finding yourself in an unstable financial situation while paying back loans can be especially difficult. While you may find your next steps elusive and overwhelming, there are some options. One of those options is to ask for a loan modification. Here’s what you should […]
Legal Options for Job Loss
If you are at risk of losing your job or you’ve been told that you’re no longer needed in your workplace, it’s important to know what your rights are. When you know what you’re legally entitled to, as well as how to take action against your former employers, you’ll be able to take a proactive […]
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