Articles tagged with: short sale
It’s a tale we’ve heard far too many times – a home owner gets sick or loses a job, falls behind on his mortgage payments and is looking at the very real prospect of losing a home through foreclosure.
When a home is foreclosed upon, no one involved in the process wins. The home owner loses the house he or she had planned on staying in for years and will have to deal with a bad credit score for a few years. The lender always loses money when a home is …
Business, News, Real Estate »
Earlier this month, the attorneys general throughout the nation announced they are investigating foreclosure practices.
Why? There have been questions raised about the adequacy of paperwork filed in foreclosures and whether lenders have done what is required of them – giving people some time to make good on their payments after their loans go into default. Also, the attorneys general are taking a look at the process through which a mortgage is transferred from a lender to a secondary servicer that buys loans and collects on them.
Deputy Arkansas Attorney General Jim …