Since the 2008 real estate bubble meltdown, an unprecedented number of Americans have opted to do what’s called “strategic default.” This is when you choose to default on your mortgage not because you can’t afford it, but simply because it makes more financial sense than any of your other options. What specific conditions might warrant […]
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Foreclosed homes are always an attraction for real estate investors as well as for people who intend to buy a home to live in. There might be some reasons behind this popularity of foreclosed homes. Other than the possibility of a better deal, there are other advantages of buying foreclosed homes. Read on and find […]
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If you’re underwater on your property and having trouble making payments, getting a loan modification could be a much more reasonable approach than a straight out default or foreclosure. A loan modification involves restructuring your existing loan so that your payments drop below 31% of your gross monthly income. In other words, your bank will […]
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A short sale, if done well, can allow you to walk away from your home free and clear, even if you’re underwater right now. For many homeowners, a short sale is the only option that allows them to avoid certain foreclosure. What Is a Short Sale? A short sale is when a bank agrees to […]
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If foreclosure is looming on the horizon, now’s the time to kick into gear. Just because you’ve had trouble making payments doesn’t mean you have to lose your home. Instead, if you take action quickly and work with your lender, there’s a very good chance you can avoid foreclosure. These are three things you can […]
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