Due to the inability of the “Making Home Affordable” program to help stop foreclosure for a large number of ineligible, willing applicants, foreclosures continued to spiral out of control, the Deed for Lease program was born. . . . → Read More: Lease Back Home In Foreclosure
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Home foreclosures There are people who were just on the door steps of foreclosure and tried to refinance their current home loan with a bad credit loan or sometimes known as a “hard money loan”, only to be told that hey did not qualify. It seems ironic that if you wanted a bad credit loan that charges more fees and higher interest rates to try and avoid foreclosure, why can’t you qualify? If you have few late payments, you have the bad credit secured with real estate , so why not qualify for the bad credit loan? Know the difference between a bad credit subprime loan and a hard money loan. A hard money loan is generally based on the value of amount seeking to borrow and the market value of the home, and is a type of subprime loan. If you have any equity in Continue reading Bad Credit Loan To Save Home  In the last couple of years, the bankruptcy laws have changed in congress and as recent as April 2007. There was a time that a homeowner who came upon hard times could seek protection from creditors under Federal Bankruptcy laws by filing a Chapter 13 , Chapter 7 and other options and stop foreclosure. Now, times and the laws have drastically changed. The process of filing a bankruptcy to try and save your home and reorganize your debts have taken a turn with twists and curves just to be able to consider filing! The new Bankruptcy laws according to the Department of Justice, were enacted under the following
The bankruptcy changes were put into effect in October of 2005. In a nutshell, before anyone can file a petition for bankruptcy, they must obtain credit counseling within 180 days before being able to file a bankruptcy. Once you have filed a bankruptcy, you must obtain a debt management education certificate before the bankruptcy is discharged. Continue reading Bankruptcy To Save Home |
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facts and figures are in the news, on the t.v. and online almost on a daily basis. This trend can only mean that the number of homeowners facing foreclosure or have been foreclosed on, is growing rapidly. Many homeowners are seeking information on how to save their home and