Budgeting Your Project

Short Sale Real Estate Information

If someone owes more on his mortgage than his home is worth and needs to immediately sell his home, he may short sale the property. The home sells for less than it is worth and does less damage to his credit score than a foreclosure would. The lender may lose money but will not incur […]

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Budgeting Your Project

Price Comparison for Home Equity Loans

When you take a home equity loan or home equity line of credit, you borrow from the total value of your house, less the amount you owe on your mortgage. The home becomes collateral, which is why the loans are often called mortgages. The rates of interest are lower than most consumer loans or credit […]

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Budgeting Your Project

When Is a Lien Avoided in Bankruptcy?

When you take out a mortgage, home equity loan, or home equity line of credit on your home or on another piece of property, you grant the lender a lien on that property. The lien allows the lender to foreclose and sell the property if you fall behind in your obligations under the loan. Bankruptcy, […]

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Budgeting Your Project

What Are the Steps Leading Up to a Foreclosure?

Home foreclosures can happen for numerous reasons, however in the end, banks must foreclose on a home because a borrower can’t or won’t make his monthly payments. Foreclosure rarely comes as a surprise, given the reality that their are multiple attempts made by the lending institution to encourage the borrower to bring the loan up-to-date […]

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