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Foreclosure

How can foreclosure impact your credit score?

Foreclosures occur when you can no longer make mortgage payments on your home. In this case, the bank or lender will begin the process of resuming control of the property and sell it to recoup their losses. In addition to losing your home, foreclosure can affect your...

How should you respond to foreclosure concerns?

Knowing that you do not have enough money to pay your mortgage can cause great uncertainty. You may experience feelings of embarrassment, fear and guilt. Despite your valid concerns, the way you respond can help you keep your dignity. Knowing your rights will also...

What should you know about short sales?

Short sales provide a potential way to prevent yourself from going into foreclosure if you cannot currently pay your mortgage. A short sale lets you sell your home for less than the outstanding balance of your mortgage. On the plus side, it releases the lien from your...

Will Chapter 13 save my home?

Facing a foreclosure can be scary, especially if you cannot figure out how to catch up on your overdue mortgage payments. If you want to find a way to save your home and have exhausted all other options, you may consider filing Chapter 13 bankruptcy. Credit Karma...

What you should know about short sales

A foreclosure becomes a real possibility if you fall too far behind on your mortgage payments. If your home's value has depreciated to the point that it is less than what you still owe on the home, a short sale may be an option. While effective at preventing...

Protecting yourself against foreclosure scams

When foreclosure bears down on anyone, things can seem bleak enough to merit desperate actions. You might consider any deal worth the risk if it includes keeping your home. Home sales and property foreclosures are complex processes, so if anyone offers you a deal that...

What to do if facing foreclosure

A job loss or unexpected medical bills can make it difficult to pay the mortgage in full and on time. If this continues, the lender may begin the process of repossessing the home, which is foreclosure. It is important that homeowners understand that foreclosure is not...

What can I do to stop foreclosure?

People hesitate to bring up the "F" word. No, we're not discussing profanity. We're talking about foreclosure.Foreclosure is a firghtening prospect, as it means that you and your family could soon find themselves homeless if you don't make or catch up on your mortgage...

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