Was The End of 2009 Just The Beginning For Home Foreclosures?
Last year we kept hearing how the recession was over or almost over and things were going to look up at any moment. Well, 2009 came and went and we soon discovered that the recession was, in fact, not over. The question now is not if millions of people are going to lose their homes—which read more
The Future of Foreclosures in Florida
While the current recession languishes on, some states are suffering from a huge backlog of foreclosures in the process and large numbers of foreclosed homes on the market. Florida is one such state, having the third highest mortgage payment delinquency rate behind both the sunshine state of read more
Feldman Law Center – Foreclosures Overwhelming California Homeowners
Feldman Law Center - News by Feldman Law Center -- Unfortunately, California homeowners are being overwhelmed by foreclosures, and many people feel there is no end in sight to the situation. Legislation from California and the federal government has helped some people, but it is not enough. read more
Riding the 2nd Wave of Foreclosures
Driving South on Interstate 75 in Marietta, GA everyone on their way to work looks up to see the big realty company sign that tells how many listings are on the market, waiting to be sold. Â The numbers have finally made it back in the 70,000 range which is what we used to call "normal" when read more
Habitat For Humanity Homes Booming in The Current Climate of Foreclosures
While the numbers won't be available for this year's foreclosures for some months yet, the numbers for homes lost due to foreclosure for last year are easily available for those who're brave enough to take a look at them. Reported losses to foreclosures range as high as a million homes lost for read more
More Foreclosures on The Horizon in Q4
2009 may just go down in the record books as "the year of the foreclosure" for homeowners across the country and it doesn't look like things are going to improve any time soon. The number of foreclosures hit record highs by the midsummer at over one million foreclosures being filed at that time. read more
Learn How to Buy Foreclosures
If an individual who has taken out a loan defaults on it, the lending agency that gave the loan wants to be able to recoup their losses from the unpaid loan. One way they do that is by means of foreclosure, a process by which property is taken over or sold. This potentially devastating process happens all the time to people who have purchased homes.
There are basically four different ways that the foreclosure process can end in your case, one being that the borrower could reinstate the loan by paying off the default amount during a grace period. The borrower could also sell the property to a third party during the pre-foreclosure period or a third party could buy the property at a public auction at the end of the pre-foreclosure period.
The lender whose loan has been defaulted on could also choose to take possession of the property. If they do this, it would traditionally be with the goal of selling it on the market.
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