Foreclosure is the legal process for mortgage companies taking your house. It is much in the news these days, with mortgage companies being questioned on the legal documents they produce in courts, in cases of judicial foreclosure. Mortgage simply means: debt secured by real estate; pledging your home as collateral, or security, for a loan….
Tag Archive: foreclosures
What Can You Do To Save Your Home From Foreclosure?
The housing market gets worse, more foreclosures happening, and more foreclosures coming. Household wealth declines, another predictor of increased bankruptcy filings to come. Even the rich and famous are joining in, word is Mel Gibson facing foreclosure on his Malibu, California properties. People are waiting for loan modifications to save their home are forced into…
Avoid Foreclosure With Non-Bankruptcy Cramdown?
Is your home worth less than what you owe on the mortgage, or mortgages? That is called: underwater. This encourages people to stop paying and let mortgage foreclosure happen, even if they can afford the payments. In Michigan now, for homes that have a mortgage more than half are underwater. Tune I have been singing…
Bankruptcy Filings Will Go Up
More economic bad news means more Detroit MI bankruptcy filings, and more chapter 7 and chapter 13 bankruptcy filings almost everywhere. Home sales continue to plunge. Government programs have failed to stem the tide of foreclosures, which will only go up as “Home Loans Going Bad Faster Than They’re Being Helped” as the title of…
