According to Ahmad Sulaiman of Sulaiman Law and Associates, when it comes to a legal situation that involves an asset as important as your home, it is vital that you do not venture into litigation on your own. In fact, finding a qualified foreclosure lawyer in your area can help you keep your home during the process.Sulaiman is a sought-after real estate attorney in Illinois, whose mission is to provide legal assistance to homeowners so that they...more
When you are looking for the most efficient way to find a foreclosure near by, the best option available is HUD foreclosures for sale. This is a free foreclosures list by zip code of all the foreclosures that exist and you can find it online.Only by entering your zip code can you find a lot of property foreclosure auctions, and select your area in a matter of seconds.Searching for a foreclosure far from where you live? That is not a problem. You...more
What is the cause of foreclosures? Economy, mortgage meltdown, other? The answer is all of the above and more. There is a 2nd wave of foreclosures coming as delinquent mortgages have increased tremendously in 2009 vs 2008. While this is unfortunate for many homeowners, this is incredible for investors who can cherry pick from the tremendous supply of properties for sale. 1. Negative Equity Many homeowners are underwater or they owe more than the property is worth. This problem could get worse when the 2nd wave of foreclosures hits, interest rates increase and banks continue to be tight with lending. Loan modifications are helping, but very few qualify. 2. Unemployment Unemployment and the economy have caused many to lose or take substantial income reductions making it hard for people to pay there mortgages and bills. 3. Subprime FICO It not only takes excellent credit but high income, plenty of cash and assets and strong debt to equity ratios to get a loan. People without one of these have a really hard time getting a loan, refinancing and often lose their home. 4. Mortgage Reset Interest only resets and ARMs are raising mortgage payments when...more
Providing the best for our family is but one of the foremost concerns we face everyday. We work so hard, and even forget to take a rest, because we are anxiously trying to make ends meet and prevent our children to experience hardships in life. But when times are tough and circumstances are beyond our control, we face certain challenges in our...more
Finally, if you really do not want to leave your home move fast and avoid foreclosure. The earlier you get someone that can actual aide you the better off you will be. For those individuals living in and around Phoenix AZ, your best bet is to visit www.azinvest.org. These professionals will help you to stay in your home, lower your payments and...more
The consequences of foreclosure in California go beyond dollars and cents. Many California property owners fell behind in their mortgage loan payments due to the economic system and/or because affordability concerns had been ignored by lenders and buyers. Unable to find the help they needed to prevent or stop foreclosure, many are now facing the consequences of foreclosure in California.Consequences of foreclosure #1 - no roof over your headFirst, they must live with the loss of their residence. A recent report by First Focus, a Washington, D.C. advocacy group, finds that about 2 million children are likely to be affected by foreclosure in some way, such as the need to change schools.Fortunately, the negative stigma of foreclosure is not what it was. Many good and reasonable people are finding themselves dealing with foreclosure. Unfortunately, it's now considered normal.With foreclosures so much in the news, it might prompt individuals not to make sound judgments.They must also find another place to stay. Even though renting is generally considerably more affordable than owning, this comes at a time when they lack the funds for a deposit and first month's lease. Property owners...more
The steps involved in property foreclosures vary depending on the agreement between the lender and the homeowner. Laws governing foreclosures may also differ from one state to another. People who are having difficulties paying their mortgage loans...more
The last month has seen a rise in commercial foreclosure actions filed in the Dallas-Fort Worth metro area by at least 40% compared to the same period last year. Still, even with this increase, analysts do not foresee any jump in property default...more
There are many homeowners who can not understand the intricacies of the foreclosure process. The confusion stems from the fact that the process is very complicated. And to make matters worse, the government's modification program is not working...more
Houses under HUD foreclosure listings are some of the most affordable residences available in the U.S. Like other foreclosed properties, HUD houses are offered at almost half their original prices. For families and individuals who are buying a home...more
Yeary said that she gave up the job because she did not get the proportionate cuts as had been promised. She admitted never seeing any of the clients get back the ownership through this process. She left before any of the 15 month agreements...more
How to Buy ForeclosuresAmbition is the spur that makes man struggle with destiny. It is heaven's own incentive to make purpose great and achievement greater. -Donald G. MitchellHow to Buy Foreclosures Apex By: Ralph Cummings About the...more