Real Estate Blog – Condotron

Condos – Properties – Real Estate – Mortgages

24 Oct

Facing foreclosure? Don’t pack just yet: 2

Posted in Mortgages on 24.10.09

ForeclosureHouseNow that we have talked about making sure that you know that you are not alone, let’s go ahead and dive right into foreclosure.  If you are considering just leaving before the bank really owns your home, there are some problems that you might run into that you need to know about.

Firstly, the foreclosure can actually be resurrected and the owner of your mortgage can return later and restart the foreclosure if the property value rises up in a few years.  Did you know that your mortgage can also be sold?  Just as many credit-card companies sell deadbeat accounts to aggressive debt collectors for pennies on the dollar owed.

Another problem is that the city can actually throw you out – which is something that I had no idea about!  These are just a few problems that you might run into if you plan on leaving your home.

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23 Oct

Facing foreclosure? Don’t pack just yet

Posted in Mortgages, Real Estate on 23.10.09

Facing foreclosure? Don't pack just yet Across the country, we all know that banks are starting to foreclose on many homes and homeowners are left without a word of explanation.  The banks seem to be taking the homes without so much as a warning and it is happening everywhere – form Ohio all the way to NY and from NY all the way to Florida.  It seems that foreclosures have become increasingly popular and there is no way around it.

If you are a homeowner that is faced with foreclosure – there are a ton of things that you can do, you just need to know exactly what to do and what they are.  The first thing you need to realize is that you are not alone.  There are so many people out there that have faced foreclosure and have gotten through it and you can too.

In the next blog, we are going to talk about some more ways that you can handle foreclosure if you are faced with it.

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