February 27, 2008
Home Foreclosure - The Bad Dream
Incredibly, the foreclosure rate recorded in the last quarter of 2007 was the highest in the United States since mortgage surveys started over 50 years ago in 1953. In the states suffering from high… more…
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Washington Post, United States -
Timothy M. Kaine (D) is planning to announce Wednesday a proposal aimed at regulating high-risk mortgage lenders and stemming the surge of foreclosures that …
Forestry department says wildfires drain 2008 budget
Statutory redemption allows the mortgagor (the homeowner) to regain ownership of the property after foreclosure sale. About one-half the states have statutory redemption laws. Generally, these laws give anywhere from six months to a year for the mortgagor to redeem the mortgage by: Payment of the foreclosure sale price, and A statutory rate of interest to the sale purchaser. Junior lien holders also have a right to redeem under statutory redemption laws (in order of their priority) though n more…
Due to the high rate of foreclosures, the goverment has stepped in to be “the hero” for America’s homeowners. If you owe more than the value of your home or you have received one of those negative amortization loans, it may seem like refinancing is out of the question. But don’t worry - there is hope for you! However, there are a few guidelines that you must have for the goverment to help you. The main reasons the government will help save your home are: You fell behind on your payment AFT more…
Tags: foreclosure, home equity loan
