When financial trouble rears its head, preventing foreclosure and keeping the house becomes a number one priority.
Whether the pinch is caused by loss of income, a loan that resets, or business slow down, you can find making the mortgage payments a challenge. Not to mention sorting out escrow screwups and changes of servicers.
So, we’re rounding up some of our best posts on preventing foreclosure, mortgage accounting, and houses in bankruptcy here on one page.
Understanding what you owe on your mortgage
Five basics that explain why the payoff of your home loan isn’t necessarily the principal balance and why the lender says you’re due for last month when you sent a full payment.
How Chapter 13 works to save your house
Once you file bankruptcy to stop the foreclosure, what happens next in Chapter 13 and how does it help you keep your house.
Your house needs an annual mortgage check up with RESPA
How to use your rights under the Dodd Frank Act to get straight forward answers about your home loan file and just what the lender claims you owe.
The truth about reverse mortgages
While tapping accumulated equity in your home seems logical, a reverse mortgage is full of catches that may trap you, your spouse, or your heirs. Things to watch out for.
Wiping out liens in bankruptcy
Underwater mortgage liens can be stripped off of your home in a Chapter 13 bankruptcy. Complete your plan and the lien with no value is forever void.
Borrower mistreatment in loan modifications: courts are fed up
Federal District Judge finds that banks have a common law duty of care when they consider a loan modification. Harm to the borrower is foreseeable if the servicer fails to route the application properly.
Six things you didn’t know about the California homestead
More powerful than you thought, with limitations that are poorly known, a California homestead is the superhero of exemptions.
Why your lender’s insurance is no good for you
When your lender obtains insurance on your home, you’re in a world of trouble. The bank is not looking out for you, neither in cost or coverage.
Trouble persists after the loan modification
The struggle isn’t over when you’re told you have a loan modification. Dig into the tricks employed by loan servicers to keep homeowners from real relief and how to fight back.
Your rights in a California foreclosure
Foreclosure is a process, not a place. Until there is an actual foreclosure sale, your rights to the property are unchanged. Don’t be exploited.