Although many properties that are currently in foreclosure have little equity or are actually upside-down (the homeowners owe more on the loan than the home is worth), a significant number of homeowners have a large equity position in their houses. But when the bank forecloses and attempts to bring the property to a sheriff sale, [...]
Archive for the ‘Personal Lending’ Category
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The Good Credit Foreclosure Crisis
Posted by davidguide on March 18th, 2010
Two or three years ago, all anyone could talk about was the housing market. It was booming. Builders were building, buyers were buying, and lenders were lending. Everybody was making money hand over fist, and everybody loved it.
It didn’t last. The market started to lag in 2006 and has only gotten worse in the first [...]
No Credit Check Personal Loans: When the Best Loan Can’t Offset Bad Credit
Posted by davidguide on March 18th, 2010
If there was ever a life saving drug in the loan industry to people with bad credit – it is personal loans. Bad credit usually is not very keen to part with your credit history and stays for 7-10 years depending on the severity of the credit problem. Those who have bad credit are rarely [...]
Loan Programs to Stop Foreclosure
Posted by davidguide on March 11th, 2010
Homeowners facing the loss of their homes due to a financial hardship often rely primarily on getting a new line of credit to stop foreclosure. In effect, they are trying to solve a debt problem by taking on more debt, refinancing their mortgage or taking out a personal loan or car title loan to get [...]
Foreclosure Buyers – Avoid Short Sales!
Posted by davidguide on March 11th, 2010
Foreclosure Buyers: Avoid Short Sales!
Most articles you’ll find about Foreclosures and Short Sales are focused on sellers who may be losing their home to foreclosure. However, if you’re a buyer looking for information on what you should purchase, then you need to be aware of the hidden pitfalls and frustration that can come with buying [...]
Stop Foreclosure Eleven Different Ways
Posted by davidguide on March 4th, 2010
The list of various methods to stop foreclosure that is presented in this article is a nearly comprehensive accounting of the most common ways homeowners can use to save their homes, either by staying in them and avoiding foreclosure, or by getting out of a bad situation with as much of their financial lives intact [...]
Equity Loan Mortgages May Help Homeowners Prevent Foreclosure
Posted by davidguide on March 4th, 2010
One of the solutions to foreclosure that we discuss much less often than others is obtaining an equity loan to pay off the arrears and reinstate the mortgage. This is because it is one of the more difficult options to qualify for, possibly more difficult than a standard foreclosure refinance. However, for homeowners in the [...]
Foreclosures With Home Equity Credit Lines Too
Posted by davidguide on February 25th, 2010
More people in America are missing payments on their home equity loans than at any time in this decade, Moody’s Investors Service said on Dec 13th, showing how the U.S. housing crisis has spread to many loans that were once generally considered safe.
Moody’s U.S. Home Equity Index Composite showed that the number of loans at [...]
Avoiding Foreclosure Is Easier Than You Think
Posted by davidguide on February 25th, 2010
Often times avoiding foreclosure may seem impossible, but it really is not the end of the road. You can avoid foreclosure by applying a few simple actions to make life better for you and your lender. This article will look at the best way to quickly avoid foreclosure and save your property.
Yes, avoiding foreclosure can [...]
Signing Over the Deed to Stop Foreclosure Quickly
Posted by davidguide on February 18th, 2010
There are a lot of bad ideas and disinformation floating around in regards to transferring title to a property to stop foreclosure. It seems like such a simple solution on its face: transfer the property to someone else’s name and the bank will suddenly find itself foreclosing on a property that is no longer owned [...]
