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Foreclosure is a particular legal process in which a mortgage lender attempts to recover the balance of a loan from a client who has stopped paying to the lending company by forcing the sale of the asset used as the collateral for the loan. Formally, a mortgage lender (mortgagee), or other lien holder, obtains a Read the full article…
Foreclosure is often regarded as a legal procedure that comes into picture during the event of non-payment of borrowed home loans. During this, lender attains the authority over the values of a borrower’s property, placed under the security interest to attain a loan, and uses it to repay the skipped loan installments, interests and the Read the full article…
Only in the United States that when it rains on your parade, you must expect the rain to pour down harder. That’s the truth for people who have gone through foreclosure. Most of these people have not prepared for their impending mortgage problems simply because they were either laid off in one of US’s lamest Read the full article…
A loan modification is a permanent restructuring of a mortgage in which at least one of the terms of the loan agreement are changed in order to provide more affordable payments. These more affordable payments usually result from reducing the interest, converting from a variable interest rate to a fixed interest rate, or extending the Read the full article…
A credit report, also known as a credit history, includes information on an individual’s or company’s financial borrowing and repaying history. This includes any late payments and bankruptcy filings. Credit report / credit history information is held at a credit bureau and is used by lenders (ex: credit card companies) to determine an individual’s credit Read the full article…
